Skillz Inc Down 5.31% To $6.06 After Earnings Beat

Skillz Inc (SKLZ) said after close Thursday that it lost $1.04 per share in quarter four 2023.

On the revenue line, the company reported $29.1 million, missing estimates by $9 million.

In the same quarter a year ago, the company lost $1.2 per share on revenue of $46.9 million.

The stock is down 5.31% to $6.06 after the report.

Skillz Inc's revenues declined at a faster pace than earnings.

The average recommendation from Wall Street analysts was a 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.

Skillz Inc has performed a little below average during the past few months. Before the report, Skillz Inc received a Long-Term Technical Rank by InvestorsObserver of 37, putting it in the bottom half of stocks. The firm set a 52-week low on October 5, 2023 at $3.96 and set a 52-week high on April 14, 2023 at $15.55.

Skillz Inc is a mobile game development company. Its platform helps developers build multi-million dollar franchises by enabling social competition in their games.