The upcoming report from Riot Platforms, Inc. (RIOT) is expected to reveal quarterly loss of -$0.19 per share, indicating an increase of 64.8% compared to the year-ago period. Analysts forecast revenues of $167.96 million, representing an increase of 98.1% year over year.
The consensus EPS estimate for the quarter has been revised 4.2% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
Bearing this in mind, let's now explore the average estimates of specific Riot Platforms, Inc. metrics that are commonly monitored and projected by Wall Street analysts.
The consensus estimate for 'Revenue- Bitcoin Mining' stands at $152.70 million. The estimate suggests a change of +126.3% year over year.
The combined assessment of analysts suggests that 'Revenue- Engineering' will likely reach $14.80 million. The estimate indicates a year-over-year change of +17.1%.
The collective assessment of analysts points to an estimated 'Revenue- Other revenue' of $0.78 million. The estimate indicates a change of -83.4% from the prior-year quarter.
View all Key Company Metrics for Riot Platforms, Inc. here>>>
Over the past month, shares of Riot Platforms, Inc. have returned +21.1% versus the Zacks S&P 500 composite's +2.5% change. Currently, RIOT carries a Zacks Rank #4 (Sell), suggesting that it may underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Riot Platforms, Inc. (RIOT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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