Analysts on Wall Street project that Riot Platforms, Inc. (RIOT) will announce quarterly loss of -$0.22 per share in its forthcoming report, representing a decline of 150% year over year. Revenues are projected to reach $157.36 million, increasing 10.4% from the same quarter last year.
The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
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.
Based on the collective assessment of analysts, 'Revenue- Bitcoin Mining' should arrive at $135.98 million. The estimate indicates a year-over-year change of +7.6%.
The consensus estimate for 'Revenue- Engineering' stands at $21.28 million. The estimate indicates a year-over-year change of +85.1%.
It is projected by analysts that the 'Revenue- Other revenue' will reach $0.22 million. The estimate points to a change of -95.2% from the year-ago quarter.
View all Key Company Metrics for Riot Platforms, Inc. here>>>
Over the past month, shares of Riot Platforms, Inc. have returned -6% versus the Zacks S&P 500 composite's -0.3% change. Currently, RIOT carries a Zacks Rank #1 (Strong Buy), suggesting that it may outperform. 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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