Reported Friday, Skye Bioscience Q2 2024 GAAP EPS $(0.20) Beats $(0.24) Estimate; Cash Position $74.1M
Portfolio Pulse from Benzinga Newsdesk
Skye Bioscience (NASDAQ:SKYE) reported Q2 2024 GAAP EPS of $(0.20), beating the analyst consensus estimate of $(0.24) by 16.67%. This represents a 75% improvement over the $(0.80) per share loss from the same period last year. The company also reported a cash position of $74.1 million.
August 12, 2024 | 6:14 am
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Skye Bioscience reported Q2 2024 GAAP EPS of $(0.20), beating estimates by 16.67% and showing a 75% improvement YoY. The company has a strong cash position of $74.1 million.
The better-than-expected earnings and significant year-over-year improvement are positive indicators for Skye Bioscience. The strong cash position further supports the company's financial stability, likely leading to a short-term positive impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100