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Stay Ahead of the Game With Riot Platforms, Inc. (RIOT) Q3 Earnings: Wall Street's Insights on Key Metrics
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The upcoming report from Riot Platforms, Inc. (RIOT - Free Report) is expected to reveal quarterly loss of -$0.24 per share, indicating a decline of 192.3% compared to the year-ago period. Analysts forecast revenues of $161.46 million, representing a decline of 10.4% year over year.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 7.8% 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 it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
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 average prediction of analysts places 'Revenue- Bitcoin Mining' at $112.85 million. The estimate indicates a year-over-year change of -29.8%.
Analysts forecast 'Revenue- Engineering' to reach $29.63 million. The estimate indicates a change of +55.2% from the prior-year quarter.
Based on the collective assessment of analysts, 'Quantity of Bitcoin mined' should arrive at 1,628 . Compared to the current estimate, the company reported 1,406 in the same quarter of the previous year.
Analysts' assessment points toward 'Gross Profit- Bitcoin Mining' reaching $40.19 million. Compared to the present estimate, the company reported $65.03 million in the same quarter last year.
The consensus estimate for 'Gross Profit- Engineering' stands at $7.66 million. Compared to the current estimate, the company reported $12.21 million in the same quarter of the previous year.
Riot Platforms, Inc. shares have witnessed a change of -29.9% in the past month, in contrast to the Zacks S&P 500 composite's +0.7% move. With a Zacks Rank #3 (Hold), RIOT is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Stay Ahead of the Game With Riot Platforms, Inc. (RIOT) Q3 Earnings: Wall Street's Insights on Key Metrics
The upcoming report from Riot Platforms, Inc. (RIOT - Free Report) is expected to reveal quarterly loss of -$0.24 per share, indicating a decline of 192.3% compared to the year-ago period. Analysts forecast revenues of $161.46 million, representing a decline of 10.4% year over year.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 7.8% 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 it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
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 average prediction of analysts places 'Revenue- Bitcoin Mining' at $112.85 million. The estimate indicates a year-over-year change of -29.8%.
Analysts forecast 'Revenue- Engineering' to reach $29.63 million. The estimate indicates a change of +55.2% from the prior-year quarter.
Based on the collective assessment of analysts, 'Quantity of Bitcoin mined' should arrive at 1,628 . Compared to the current estimate, the company reported 1,406 in the same quarter of the previous year.
Analysts' assessment points toward 'Gross Profit- Bitcoin Mining' reaching $40.19 million. Compared to the present estimate, the company reported $65.03 million in the same quarter last year.
The consensus estimate for 'Gross Profit- Engineering' stands at $7.66 million. Compared to the current estimate, the company reported $12.21 million in the same quarter of the previous year.
View all Key Company Metrics for Riot Platforms, Inc. here>>>Riot Platforms, Inc. shares have witnessed a change of -29.9% in the past month, in contrast to the Zacks S&P 500 composite's +0.7% move. With a Zacks Rank #3 (Hold), RIOT is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .