Bakkt Hldgs Inc (BKKT) said before open Tuesday that it lost $0.19 per share in quarter three 2023.
On the revenue line, the company reported $204.8 million, beating estimates by $188.7 million.
In the same quarter a year ago, the company lost $6.11 per share on revenue of $12.9 million.
The stock is up 29.4% to $0.93 after the report.
Despite revenues increasing, earnings decreased, signaling a decline in profit margins.
The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.
Trading in the five days leading up to the report earned Bakkt Hldgs Inc a Bearish Sentiment Rank from InvestorsObserver.
Bakkt Hldgs Inc has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 13, putting Bakkt Hldgs Inc in the bottom 25% of stocks. The firm was recently trading at a 52-week low of $0.64 on November 8, 2023 and set a 52-week high on January 12, 2023 at $2.87.
Bakkt Holdings Inc is a digital asset marketplace that enables consumers to buy, sell, store, and spend digital assets. The company retail platform Bakkt App amplifies consumer spending and bolsters loyalty programs, adding value for stakeholders within the Bakkt payments and digital assets ecosystem.
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Bakkt Hldgs Inc Up 29.4% To $0.93 After Earnings Miss
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