Alector Q2 2024 GAAP EPS $(0.40) Beats $(0.52) Estimate, Sales $15.083M Beat $14.399M Estimate
Portfolio Pulse from Benzinga Newsdesk
Alector (NASDAQ:ALEC) reported Q2 2024 GAAP EPS of $(0.40), beating the $(0.52) estimate. Sales were $15.083M, surpassing the $14.399M estimate. Despite beating estimates, both EPS and sales saw significant declines compared to the same period last year.
August 07, 2024 | 9:20 pm
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Alector's Q2 2024 earnings and sales beat analyst estimates, but both metrics saw significant declines compared to the same period last year. The EPS of $(0.40) beat the $(0.52) estimate by 23.08%, and sales of $15.083M beat the $14.399M estimate by 4.75%. However, EPS decreased by 2100% and sales by 73.17% YoY.
While Alector beat analyst estimates for both EPS and sales, the significant year-over-year declines in both metrics may cause mixed reactions in the market. Investors might be concerned about the large decreases despite the beats, leading to a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100