Planet Labs, a company specializing in satellite imaging and data, recently reported its earnings for the third quarter of 2023. The results were released on Thursday, December 7, 2023, at 04:05 PM.
Unfortunately, Planet Labs missed estimated earnings by 62.5%, reporting an EPS of $-0.13 compared to an estimate of $-0.08. However, revenue was up $5.68 million from the same period last year, which is a positive sign for the company.
This is not the first time Planet Labs has struggled with earnings. Last quarter, they also missed on EPS by $0.06, and as a result, the company’s share price dropped by 11.04% the following day.
To provide a broader perspective on Planet Labs’ performance, let’s take a look at their past earnings:
– Q2 2023:
– EPS Estimate: -0.08
– EPS Actual: -0.14
– Revenue Estimate: 54.14M
– Revenue Actual: 53.76M
– Q1 2023:
– EPS Estimate: -0.15
– EPS Actual: -0.13
– Revenue Estimate: 52.91M
– Revenue Actual: 52.70M
– Q4 2022:
– EPS Estimate: -0.16
– EPS Actual: -0.14
– Revenue Estimate: 52.56M
– Revenue Actual: 52.98M
– Q3 2022:
– EPS Estimate: -0.17
– EPS Actual: -0.15
– Revenue Estimate: 47.20M
– Revenue Actual: 49.70M
This data shows a consistent pattern of missing earnings estimates and struggling to meet revenue expectations. However, it’s worth noting that revenue has generally been increasing over the past year.
Investors should keep an eye on Planet Labs’ future earnings releases to see if the company can improve its financial performance. To track all earnings releases for Planet Labs, you can visit their earnings calendar on Benzinga’s website.
It’s important to remember that this article was generated by Benzinga’s automated content engine and reviewed by an editor. Benzinga does not provide investment advice.
In conclusion, Planet Labs’ Q3 earnings missed estimated earnings, but revenue showed growth compared to the same period last year. The company has a history of struggling to meet expectations, but investors should stay updated on future earnings releases to see if there are any positive changes in performance.
