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The company’s earnings surprise history has not been impressive. Earnings lagged the Zacks Consensus Estimate in two of the trailing four quarters (two beat), delivering a negative earnings surprise of 105.2%, on average.
Q2 Expectations
The Zacks Consensus Estimate for revenues in the to-be-reported quarter is pegged at $34.1 million, indicating 18.6% decline from the year-ago actual figure. A decrease in total Bitcoin produced is expected to have hurt the top line.
The consensus mark is pegged at a loss of 5 cents per share, flat with the year-ago actual figure. Low operating performances are likely to have hurt the bottom line.
Our proven model does not conclusively predict an earnings beat for Bitfarms this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Bitfarms has an Earnings ESP of 0.00% and a Zacks Rank #2.
Stocks That Warrant a Look
Here are a couple of stocks from the broader Zacks Business Services sector that investors may consider, as our model shows that these have the right combination of elements to beat on earnings this season.
The Zacks Consensus Estimate for the bottom line is pegged at 24 cents per share, down 27.3% from the year-ago reported figure. The consensus mark for revenues is pegged at $207.65 million, up 5.3% from the prior-year reported figure. EVRI has an average earnings surprise of 26.8% in the previous four quarters.
DLocal Limited (DLO - Free Report) currently has an Earnings ESP of +12.50% and a Zacks Rank of 2. The company is scheduled to post second-quarter numbers on Aug 15.
DLO has an expected earnings growth rate of 54.1% for fiscal 2023.
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What's in the Offing for Bitfarms (BITF) in Q2 Earnings?
Bitfarms Ltd. (BITF - Free Report) is slated to report second-quarter 2023 results on Aug 8, before market open.
The company’s earnings surprise history has not been impressive. Earnings lagged the Zacks Consensus Estimate in two of the trailing four quarters (two beat), delivering a negative earnings surprise of 105.2%, on average.
Q2 Expectations
The Zacks Consensus Estimate for revenues in the to-be-reported quarter is pegged at $34.1 million, indicating 18.6% decline from the year-ago actual figure. A decrease in total Bitcoin produced is expected to have hurt the top line.
The consensus mark is pegged at a loss of 5 cents per share, flat with the year-ago actual figure. Low operating performances are likely to have hurt the bottom line.
Bitfarms Ltd. Price and EPS Surprise
Bitfarms Ltd. price-eps-surprise | Bitfarms Ltd. Quote
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Bitfarms this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Bitfarms has an Earnings ESP of 0.00% and a Zacks Rank #2.
Stocks That Warrant a Look
Here are a couple of stocks from the broader Zacks Business Services sector that investors may consider, as our model shows that these have the right combination of elements to beat on earnings this season.
Everi Holdings (EVRI - Free Report) currently has an Earnings ESP of +2.07 and a Zacks Rank of 2. The company is slated to declare second-quarter results on Aug 9. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for the bottom line is pegged at 24 cents per share, down 27.3% from the year-ago reported figure. The consensus mark for revenues is pegged at $207.65 million, up 5.3% from the prior-year reported figure. EVRI has an average earnings surprise of 26.8% in the previous four quarters.
DLocal Limited (DLO - Free Report) currently has an Earnings ESP of +12.50% and a Zacks Rank of 2. The company is scheduled to post second-quarter numbers on Aug 15.
DLO has an expected earnings growth rate of 54.1% for fiscal 2023.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.