Clarivate Analytics Plc Up 1.78% To $6.88 After Earnings Beat

CLARIVATE PLC (CLVT) reported better than expected earnings this morning for Q3 2023.

Clarivate Analytics Plc's earnings came in at an EPS of $0.21 per share, 17.00% higher than estimates for an EPS of $0.18 per share. The firm's earnings are up 5% since reporting $0.2 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Revenues were upbeat at $647.2 million. That is an increase of 1.81% in revenues from the year-ago report and is 2.46% higher than consensus estimates set at $631.7 million.

The stock is up 1.78% to $6.88 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 46. Meanwhile, the average Wall Street analyst rated the stock a Buy.

Clarivate PLC is an information service and analytics company serving the scientific research, intellectual property, and life sciences end-markets. It operates in two segments: Science and Intellectual Property(IP). The Science segment provides structured information that is delivered and embedded into the workflows of the company's customers. The IP segment help and manage customers an end-to-end portfolio of intellectual property from patents to trademarks to corporate website domains. The company's brand portfolio includes Web of Science, Derwent, Cortellis, DRG, CompuMark, MarkMonitor, and CPA Global. Its geographical segments are the Americas, Europe/Middle East/Africa, and Asia-Pacific.