Supercom Ltd Up 6% To $1.13 After Earnings

Monday, July 31, 2023 - Supercom Ltd (SPCB) reported upside earnings and revenues today.

Supercom Ltd earnings per share (EPS) came in at of $0.07. Supercom Ltd's earnings rose 114% year-over-year as the firm reported an EPS loss of $0.50 per share in its year-ago quarter. The positive annual growth shows the Industrials company is performing well amid recent economic conditions.

Revenues were upbeat at $7.7 million. That is an increase of 140.77% in revenues from the year-ago report and is 68.43% higher than consensus estimates set at $4.6 million.

The stock is up 6% to $1.13 after the report.

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

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

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.