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IonQ (IONQ) to Report Q2 Earnings: What's in the Cards?
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IonQ (IONQ - Free Report) is set to report second-quarter 2023 results on Aug 8.
The Zacks Consensus Estimate for second-quarter revenues is pegged at $4.37 million, indicating an increase of 67.47% from the year-ago quarter.
The consensus estimate for second-quarter earnings has remained steady at a loss of 16 cents per share over the past 30 days, indicating a decline of 77.78% from the year-ago quarter.
IonQ’s second-quarter results are expected to reflect an increase in customers, boosted by the launch of IonQ Forte and IonQ Aria. IonQ’s recent partnerships are likely to have a big impact on the top line in the to-be-reported quarter.
In the first quarter, results were driven by a strong cash position and wide margin. The company believes it is sufficiently funded to deliver strong results in the to-be-reported quarter.
In the second quarter, IonQ Aria was made available on Amazon (AMZN - Free Report) Braket, AWS’s quantum computing service. This expands upon IonQ’s existing presence on Amazon Braket, following the debut of IonQ's Harmony system on the platform in 2020. This is expected to have boosted the top line in the to-be-reported quarter.
IonQ’s most powerful quantum system, IonQ Forte, entered expanded commercial availability in the first quarter. It has been made available for customers worldwide. This is expected to have boosted the number of customers in the to-be-reported quarter.
In the first quarter, potential customers were noticing the superior performance of IonQ Systems, which resulted in the rapidly rising demand for IonQ Compute time. This trend is likely to have continued in the to-be-reported quarter.
What Our Model Indicates
According to the Zacks model, 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.
IonQ has an Earnings ESP of 0.00% and a Zacks Rank of 3 at present. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Stocks With the Favorable Combination
Here are some stocks, which according to our model, have the right combination of elements to beat on earnings this season.
Nvidia is scheduled to release second-quarter 2023 results on Aug 23. The Zacks Consensus Estimate for NVDA’s earnings is pegged at $2.06 per share, suggesting a jump from the prior-year quarter’s reported figure of 51 cents per share.
Docebo (DCBO - Free Report) has an Earnings ESP of +6.67% and a Zacks Rank of 3, at present.
Docebo is set to report its second-quarter fiscal 2023 results on Aug 10. The Zacks Consensus Estimate for DCBO’s earnings is pegged at 8 cents per share. The company reported a loss of 5 cents per share in the year-ago quarter.
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IonQ (IONQ) to Report Q2 Earnings: What's in the Cards?
IonQ (IONQ - Free Report) is set to report second-quarter 2023 results on Aug 8.
The Zacks Consensus Estimate for second-quarter revenues is pegged at $4.37 million, indicating an increase of 67.47% from the year-ago quarter.
The consensus estimate for second-quarter earnings has remained steady at a loss of 16 cents per share over the past 30 days, indicating a decline of 77.78% from the year-ago quarter.
IonQ, Inc. Price and EPS Surprise
IonQ, Inc. price-eps-surprise | IonQ, Inc. Quote
Factors to Note
IonQ’s second-quarter results are expected to reflect an increase in customers, boosted by the launch of IonQ Forte and IonQ Aria. IonQ’s recent partnerships are likely to have a big impact on the top line in the to-be-reported quarter.
In the first quarter, results were driven by a strong cash position and wide margin. The company believes it is sufficiently funded to deliver strong results in the to-be-reported quarter.
In the second quarter, IonQ Aria was made available on Amazon (AMZN - Free Report) Braket, AWS’s quantum computing service. This expands upon IonQ’s existing presence on Amazon Braket, following the debut of IonQ's Harmony system on the platform in 2020. This is expected to have boosted the top line in the to-be-reported quarter.
IonQ’s most powerful quantum system, IonQ Forte, entered expanded commercial availability in the first quarter. It has been made available for customers worldwide. This is expected to have boosted the number of customers in the to-be-reported quarter.
In the first quarter, potential customers were noticing the superior performance of IonQ Systems, which resulted in the rapidly rising demand for IonQ Compute time. This trend is likely to have continued in the to-be-reported quarter.
What Our Model Indicates
According to the Zacks model, 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.
IonQ has an Earnings ESP of 0.00% and a Zacks Rank of 3 at present. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Stocks With the Favorable Combination
Here are some stocks, which according to our model, have the right combination of elements to beat on earnings this season.
NVIDIA (NVDA - Free Report) has an Earnings ESP of +5.56% and a Zacks Rank of 1, at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Nvidia is scheduled to release second-quarter 2023 results on Aug 23. The Zacks Consensus Estimate for NVDA’s earnings is pegged at $2.06 per share, suggesting a jump from the prior-year quarter’s reported figure of 51 cents per share.
Docebo (DCBO - Free Report) has an Earnings ESP of +6.67% and a Zacks Rank of 3, at present.
Docebo is set to report its second-quarter fiscal 2023 results on Aug 10. The Zacks Consensus Estimate for DCBO’s earnings is pegged at 8 cents per share. The company reported a loss of 5 cents per share in the year-ago quarter.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.