We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Countdown to Riot Platforms, Inc. (RIOT) Q2 Earnings: Wall Street Forecasts for Key Metrics
Read MoreHide Full Article
Wall Street analysts forecast that Riot Platforms, Inc. (RIOT - Free Report) will report quarterly loss of -$0.39 per share in its upcoming release, pointing to a year-over-year decline of 168.4%. It is anticipated that revenues will amount to $148.71 million, exhibiting a decrease of 2.8% compared to the year-ago quarter.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 13.7% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during 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 typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
In light of this perspective, let's dive into the average estimates of certain Riot Platforms, Inc. metrics that are commonly tracked and forecasted by Wall Street analysts.
The combined assessment of analysts suggests that 'Revenue- Engineering' will likely reach $21.19 million. The estimate indicates a change of +100.3% from the prior-year quarter.
Analysts' assessment points toward 'Revenue- Bitcoin Mining' reaching $119.48 million. The estimate indicates a change of -15.2% from the prior-year quarter.
The consensus among analysts is that 'Quantity of Bitcoin mined' will reach 1,527 . Compared to the present estimate, the company reported 1,426 in the same quarter last year.
Based on the collective assessment of analysts, 'Gross Profit- Bitcoin Mining' should arrive at $37.49 million. The estimate is in contrast to the year-ago figure of $62.71 million.
Over the past month, shares of Riot Platforms, Inc. have returned +0.1% versus the Zacks S&P 500 composite's -0.5% change. Currently, RIOT carries a Zacks Rank #5 (Strong Sell), suggesting that it may underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
View the Zacks #1 Rank List
Image: Bigstock
Countdown to Riot Platforms, Inc. (RIOT) Q2 Earnings: Wall Street Forecasts for Key Metrics
Wall Street analysts forecast that Riot Platforms, Inc. (RIOT - Free Report) will report quarterly loss of -$0.39 per share in its upcoming release, pointing to a year-over-year decline of 168.4%. It is anticipated that revenues will amount to $148.71 million, exhibiting a decrease of 2.8% compared to the year-ago quarter.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 13.7% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during 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 typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
In light of this perspective, let's dive into the average estimates of certain Riot Platforms, Inc. metrics that are commonly tracked and forecasted by Wall Street analysts.
The combined assessment of analysts suggests that 'Revenue- Engineering' will likely reach $21.19 million. The estimate indicates a change of +100.3% from the prior-year quarter.
Analysts' assessment points toward 'Revenue- Bitcoin Mining' reaching $119.48 million. The estimate indicates a change of -15.2% from the prior-year quarter.
The consensus among analysts is that 'Quantity of Bitcoin mined' will reach 1,527 . Compared to the present estimate, the company reported 1,426 in the same quarter last year.
Based on the collective assessment of analysts, 'Gross Profit- Bitcoin Mining' should arrive at $37.49 million. The estimate is in contrast to the year-ago figure of $62.71 million.
View all Key Company Metrics for Riot Platforms, Inc. here>>>Over the past month, shares of Riot Platforms, Inc. have returned +0.1% versus the Zacks S&P 500 composite's -0.5% change. Currently, RIOT carries a Zacks Rank #5 (Strong Sell), suggesting that it may underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .