Rigetti Computing Inc Down 5.81% To $1.87 After Earnings Beat

Rigetti Computing Inc (RGTI) said after close Thursday that it lost $0.09 per share in quarter four 2023.

On the revenue line, the company reported $3.4 million, beating estimates by $156 thousand.

In the same quarter a year ago, the company lost $0.15 per share on revenue of $6.1 million.

The stock is down 5.81% to $1.87 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 Strong Buy which may get revised based on this new data.

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

Rigetti Computing Inc has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 92, putting Rigetti Computing Inc in the top 25% of stocks. The firm set a 52-week high on August 1, 2023 at $3.43 and set a 52-week low on May 4, 2023 at $0.36.

Rigetti Computing, Inc. is a full-stack quantum computing company. The Company has operated quantum computers and serves global enterprise, government, and research clients through its Rigetti Quantum Cloud Services platform. The Company¿s proprietary quantum-classical infrastructure provides high-performance integration with public and private clouds for practical quantum computing. It has developed a multi-chip quantum processor for scalable quantum computing systems. Through the Company¿s Quantum Computing as a Service (QCaaS) platform, its machines can be integrated into any public, private, or hybrid cloud. The Company offers product types of platform, research and software tool usage in the application areas of benchmarking, chemical simulation, education/entertainment, machine learning, and optimization. The Company designs and manufactures its chips in-house at Fab-1, an integrated quantum device manufacturing facility.