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Here's What Key Metrics Tell Us About Quantum Corp. (QMCO) Q1 Earnings
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Quantum Corp. (QMCO - Free Report) reported $91.79 million in revenue for the quarter ended June 2023, representing a year-over-year decline of 5.4%. EPS of -$0.05 for the same period compares to -$0.04 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $97.04 million, representing a surprise of -5.41%. The company delivered an EPS surprise of -400.00%, with the consensus EPS estimate being -$0.01.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Quantum Corp. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenue- Service and subscription: $31.38 million versus the two-analyst average estimate of $31.09 million. The reported number represents a year-over-year change of -6.1%.
Revenue- Royalty: $2.97 million versus $3.19 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -13.8% change.
Revenue- Product: $57.45 million versus $62.74 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -4.6% change.
Gross profit- Service and subscription: $18.97 million versus the two-analyst average estimate of $17.75 million.
Gross profit- Product: $13 million compared to the $14.56 million average estimate based on two analysts.
Shares of Quantum Corp. have returned -2.8% over the past month versus the Zacks S&P 500 composite's +2.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Here's What Key Metrics Tell Us About Quantum Corp. (QMCO) Q1 Earnings
Quantum Corp. (QMCO - Free Report) reported $91.79 million in revenue for the quarter ended June 2023, representing a year-over-year decline of 5.4%. EPS of -$0.05 for the same period compares to -$0.04 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $97.04 million, representing a surprise of -5.41%. The company delivered an EPS surprise of -400.00%, with the consensus EPS estimate being -$0.01.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Quantum Corp. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Revenue- Service and subscription: $31.38 million versus the two-analyst average estimate of $31.09 million. The reported number represents a year-over-year change of -6.1%.
- Revenue- Royalty: $2.97 million versus $3.19 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -13.8% change.
- Revenue- Product: $57.45 million versus $62.74 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -4.6% change.
- Gross profit- Service and subscription: $18.97 million versus the two-analyst average estimate of $17.75 million.
- Gross profit- Product: $13 million compared to the $14.56 million average estimate based on two analysts.
View all Key Company Metrics for Quantum Corp. here>>>Shares of Quantum Corp. have returned -2.8% over the past month versus the Zacks S&P 500 composite's +2.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.