Cyngn Q2 EPS $(4.11) Beats $(8.00) Estimate, Sales $8.66K Miss $540.00K Estimate
Portfolio Pulse from Benzinga Newsdesk
Cyngn (NASDAQ:CYN) reported Q2 EPS of $(4.11), beating the $(8.00) estimate, but sales of $8.66K missed the $540.00K estimate. EPS improved by 68.31% YoY, while sales decreased by 98.43% YoY.
August 07, 2024 | 8:39 pm
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Cyngn reported Q2 EPS of $(4.11), beating the $(8.00) estimate, but sales of $8.66K missed the $540.00K estimate. EPS improved by 68.31% YoY, while sales decreased by 98.43% YoY.
While Cyngn's EPS beat expectations significantly, the massive miss on sales and the sharp YoY decline in revenue could offset the positive sentiment from the EPS beat. This mixed result is likely to result in a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100