OncoCyte Q2 2024 GAAP EPS $(0.36) Beats $(0.56) Estimate, Sales $104.000K Miss $318.500K Estimate
Portfolio Pulse from Benzinga Newsdesk
OncoCyte (NASDAQ:OCX) reported Q2 2024 GAAP EPS of $(0.36), beating the $(0.56) estimate, but sales of $104.000K missed the $318.500K estimate. EPS improved by 38.98% YoY, while sales decreased by 77.54% YoY.
August 08, 2024 | 9:23 pm
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NEUTRAL IMPACT
OncoCyte's Q2 2024 GAAP EPS of $(0.36) beat estimates by 35.71%, showing a significant improvement from last year. However, sales of $104.000K missed estimates by 67.35% and decreased by 77.54% YoY.
While OncoCyte's EPS beat estimates and showed improvement, the significant miss in sales and the large YoY decrease in revenue could create mixed reactions in the market. Investors may be concerned about the company's revenue generation capabilities despite the improved EPS.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100