Matterport Q2 2024 Adj. EPS $(0.02), Inline, Sales $42.216M Miss $44.400M Estimate
Portfolio Pulse from Benzinga Newsdesk
Matterport (NASDAQ:MTTR) reported Q2 2024 adjusted EPS of $(0.02), meeting analyst expectations. However, the company missed sales estimates, reporting $42.216 million against the expected $44.400 million, though this represents a 6.69% increase from the same period last year.
August 06, 2024 | 8:25 pm
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NEGATIVE IMPACT
Matterport's Q2 2024 earnings per share met expectations at $(0.02), but sales missed estimates by 4.92%, coming in at $42.216 million. Despite the miss, sales increased by 6.69% year-over-year.
While Matterport's EPS met expectations, the sales miss by 4.92% is likely to have a negative short-term impact on the stock price. The year-over-year sales increase of 6.69% may provide some support, but the immediate reaction is expected to be negative due to the missed sales target.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100