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Quantum Corp Down 13.71% To $1.08 After Earnings Meet

Tuesday, June 06, 2023 11:14 AM | InvestorsObserver Analysts

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Quantum Corp Down 13.71% To $1.08 After Earnings Meet

Quantum Corp (QMCO) missed earnings projections on 6/6/2023 for Q4 2023.

Quantum Corp's earnings came in at an EPS loss of $0.04 per share, in line with estimates for an EPS loss of $0.04 per share. The firm maintained its loss per share over the past year. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Consensus analyst estimates were at $102 million. The Technology company managed to surpass those expectations for its fourth quarter with revenue of $105.3 million, a positive revenue surprise of $3.3 million (3%). The firm managed 11% growth year-over-year due to Quantum Corp reporting quarterly revenue of $95.2 million in its year-ago quarter. Quantum Corp achieved a lower earnings growth rate than revenue, signaling that the business has not been able to improve its profit margin.

The stock is down 13.71% to $1.08 after the report.



Wall Street Analysts had an average rating of Buy on the stock prior to the report.

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 51. Meanwhile, the average Wall Street analyst rated the stock a Buy.

Quantum Corp is a United States-based company engaged in providing scale-out storage, archive, and data protection for small businesses and large multinational enterprises. Its solutions capture, share, manage and preserve digital assets throughout the data lifecycle. The scale-out portfolio offerings enable customers to manage large unstructured data sets, provide ingest capabilities, real-time collaboration, scalability, and protection. It derives primary revenues from the products based on tape technology. A majority of the firm's revenue is generated in the Americas, with the rest coming from Europe and Asia-Pacific.

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