Gritstone Bio Q2 EPS $(0.16) Beats $(0.29) Estimate, Sales $921.00K Miss $1.44M Estimate
Portfolio Pulse from Benzinga Newsdesk
Gritstone Bio (NASDAQ:GRTS) reported Q2 earnings per share (EPS) of $(0.16), beating the analyst estimate of $(0.29) by 44.83%. However, the company missed sales estimates, reporting $921K against the expected $1.44M, a 35.82% shortfall. Compared to the same period last year, EPS improved by 48.39%, but sales decreased by 52.89%.
August 13, 2024 | 8:29 pm
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Gritstone Bio reported better-than-expected Q2 EPS of $(0.16), beating the $(0.29) estimate. However, sales of $921K missed the $1.44M estimate, showing a significant decline from last year. The mixed results may lead to short-term volatility in the stock price.
The better-than-expected EPS is a positive sign, but the significant miss on sales and the year-over-year decline in revenue could create uncertainty among investors, leading to potential short-term volatility in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100