Secureworks Corp CS Down 2.12% To $10.18 After Earnings Beat

Secureworks Corp (SCWX) surpassed earnings projections on 9/1/2022 for Q2 2023.

Secureworks Corp CS's earnings came in at an EPS loss of $0.13 per share, 19.00% higher than estimates for an EPS loss of $0.16 per share. The firm's earnings are down 1400% since reporting $0.01 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 $116.2 million. That represents a 13.41% decrease in revenues from the year-ago report and is 0.10% higher than consensus estimates set at $116.1 million.

The stock is down 2.12% to $10.18 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

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

Trading in the five days leading up to the report earned Secureworks Corp CS a Bearish Sentiment Rank from InvestorsObserver.

Secureworks Corp CS has performed a little below average during the past few months. Before the report, Secureworks Corp CS received a Long-Term Technical Rank by InvestorsObserver of 36, putting it in the bottom half of stocks. The firm was recently trading at a 52-week low of $9.26 on June 16, 2022 and set a 52-week high on September 23, 2021 at $26.89.

SecureWorks Corp is a provider of intelligence-driven information security solutions exclusively focused on protecting its clients from cyber-attacks. Its solutions enable organizations to fortify their cyber defenses to prevent security breaches. The company's solutions include managed security, threat intelligence, security and risk consulting, and incident response. Its solutions enable organizations to fortify their cyber defenses to prevent security breaches, detect malicious activity in real-time, prioritize and respond to security incidents, and predict emerging threats.