Root Q2 2024 GAAP EPS $(0.52) Beats $(1.93) Estimate, Sales $289.200M Beat $264.771M Estimate
Portfolio Pulse from Benzinga Newsdesk
Root (NASDAQ:ROOT) reported Q2 2024 GAAP EPS of $(0.52), beating the analyst estimate of $(1.93) by 73.06%. Sales were $289.2M, surpassing the $264.771M estimate by 9.23%. This marks a significant improvement from the same period last year.
August 07, 2024 | 8:50 pm
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Root (NASDAQ:ROOT) reported Q2 2024 GAAP EPS of $(0.52), significantly beating the analyst estimate of $(1.93) by 73.06%. Sales were $289.2M, surpassing the $264.771M estimate by 9.23%. This marks a substantial improvement from the same period last year, indicating strong performance and potential positive market reaction.
Root's better-than-expected earnings and sales figures, along with a significant improvement from the previous year, are likely to positively impact the stock price in the short term. The market generally reacts favorably to companies that exceed analyst expectations, especially by such a large margin.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100