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Olink Holding Ab [Publ] ADR Up 0.76% To $17.26 After Earnings Beat

Thursday, August 11, 2022 12:53 PM | InvestorsObserver Analysts

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Olink Holding Ab [Publ] ADR Up 0.76% To $17.26 After Earnings Beat

Olink Holding AB (publ) - ADR (OLK) surpassed earnings projections on 8/11/2022 for Q2 2022.

Wall Street earnings per share (EPS) projections for Olink Holding Ab [Publ] ADR were at a loss of $0.14 per share. The company beat those estimates with an EPS loss of $0.04 per share. The loss of $0.04 per share (which represents a -71% EPS surprise) led to the company's profits rising 56% compared to last year when the firm reported an EPS loss of $0.09 per share. The increase in Olink Holding Ab [Publ] ADR's annual growth rate represents how the business is performing well amid recent economic conditions.

Consensus estimates for Olink Holding Ab [Publ] ADR revenue averaged out to $26.9 million, with the business managing to beat those expectations with reported second-quarter revenue of $27.5 million. The $664 thousand (2%) positive revenue surprise led to 56% growth year-over-year as the firm reported revenue of $17.7 million in its year-ago quarter. The higher earnings growth compared to revenue points to Olink Holding Ab [Publ] ADR improving its profit margin.

The stock is up 0.76% to $17.26 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.

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

Olink Holding Ab [Publ] ADR has performed a little above average during the past few months. Before the report, Olink Holding Ab [Publ] ADR received a Long-Term Technical Rank by InvestorsObserver of 56, putting it in the top half of stocks. The firm was recently trading at a 52-week low of $8.39 on June 16, 2022 and set a 52-week high on November 5, 2021 at $35.

Olink Holding AB has a proprietary and patented Proximity Extension Assay technology, which enables researchers to use one platform for discovery to clinical trials to diagnostic applications utilizing the established infrastructure of labs and installed instrumentation. It has two segments including Kit and Services. It derives revenues from Sweden, the Americas, China, EMEA (Excluding Sweden) Japan, and other regions.

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