Matterport, Inc. (MTTR) Reports Q2 Loss, Misses Revenue Estimates
Matterport, Inc. (MTTR) came out with a quarterly loss of $0.12 per share versus the Zacks Consensus Estimate of a loss of $0.14. This compares to loss of $0.62 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 14.29%. A quarter ago, it was expected that this company would post a loss of $0.14 per share when it actually produced a loss of $0.10, delivering a surprise of 28.57%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Matterport, Inc., which belongs to the Zacks Technology Services industry, posted revenues of $28.48 million for the quarter ended June 2022, missing the Zacks Consensus Estimate by 3.24%. This compares to year-ago revenues of $29.5 million. The company has topped consensus revenue estimates two times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Matterport, Inc. Shares have lost about 77% since the beginning of the year versus the S&P 500's decline of -13.5%.
What's Next for Matterport, Inc.
While Matterport, Inc. Has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
Continue read on nasdaq.com