Bitfarms Q2 2024 GAAP EPS $(0.07) Beats $(0.10) Estimate, Sales $41.548M Miss $47.029M Estimate
Portfolio Pulse from Benzinga Newsdesk
Bitfarms (NASDAQ:BITF) reported Q2 2024 GAAP EPS of $(0.07), beating the $(0.10) estimate, but sales of $41.548M missed the $47.029M estimate. Sales increased by 17.11% year-over-year.
August 08, 2024 | 11:33 am
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Bitfarms reported a Q2 2024 GAAP EPS of $(0.07), beating the $(0.10) estimate, but sales of $41.548M missed the $47.029M estimate. Sales increased by 17.11% year-over-year.
The earnings per share (EPS) beat is a positive sign, indicating better-than-expected profitability. However, the miss on sales estimates and the fact that sales increased year-over-year by 17.11% creates a mixed outlook. Investors may react neutrally in the short term as the positive EPS is offset by the sales miss.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100