SuperCom Ltd. Up 1.1% To $0.27 After Earnings

SuperCom Ltd. (SPCB) said before open Wednesday that it lost $0.02 per share in quarter three 2022. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods. The company reported $6.3 million in revenue

In the same quarter a year ago, the company lost $0.03 per share on revenue of $3.1 million.

The stock is up 1.1% to $0.27 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

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

Trading in the five days leading up to the report earned SuperCom Ltd. a Bullish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 45. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

SuperCom Ltd is an Israel-based provider of traditional and digital identity solutions, advanced IoT and connectivity solutions, and cybersecurity products and solutions to governments and private and public organizations throughout the world. It comprises three main Strategic Business Units: e-Gov; IoT, which is the key revenue driver; and Cyber Security. Besides, it also offers a wide range of solutions that include national ID registries, e-passports, biometric visas, automated fingerprint identification systems, digitized driver's licenses, and electronic voter registration and election management using the common platform. Its geographical segments include Africa, European countries, South America, the United States, Israel, and the Asia Pacific.