Canaan (CAN) Reports Q3 Loss, Tops Revenue Estimates
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Canaan (CAN) reported a Q3 loss of $0.27 per share, which was larger than the Zacks Consensus Estimate of a $0.15 loss. However, the company exceeded revenue expectations.
November 20, 2024 | 1:15 pm
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Canaan reported a Q3 loss of $0.27 per share, missing the Zacks Consensus Estimate of a $0.15 loss. Despite the larger-than-expected loss, the company exceeded revenue expectations.
Canaan's reported loss per share was larger than expected, which is typically negative for stock prices. However, the fact that they exceeded revenue expectations may mitigate some negative impact. Overall, the larger-than-expected loss is likely to weigh more heavily on short-term stock performance.
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