Corecard Corporation (CCRD) said before open Wednesday that it earned $0.09 per share in quarter three 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $13.4 million, missing estimates by $901 thousand.
In the same quarter a year ago, the company earned $0.16 per share on revenue of $14.5 million.
The stock is down 16.80% to $17.78 after the report.
Corecard Corporation's profit margins took a hit as earnings fell at a faster pace than revenues.
The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.
Trading in the five days leading up to the report earned Corecard Corporation a Bullish Sentiment Rank from InvestorsObserver.
Prior to the report, InvestorsObserver gave the stock an overall score of 31. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.
CoreCard Corporation provides a pioneering card management platform built for the future of global transactions in a digital world. Dedicated to continual technological innovation in the ever-evolving payments industry backed by decades of deep expertise in credit card offerings, CoreCard helps customers conceptualize, implement, and manage all aspects of their issuing card programs. Keenly focused on steady, sustainable growth, CoreCard has earned the trust of some of the largest companies and financial institutions in the world, providing truly real-time transactions via their proven, reliable platform operating on private on-premise and leading cloud technology infrastructure.
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Corecard Corporation Down 16.80% To $17.78 After Earnings Miss
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