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EMCORE Second Quarter 2023 Earnings: Misses Expectations

EMCORE (NASDAQ:EMKR) Second Quarter 2023 Results

Key Financial Results

  • Revenue: US$26.8m (down 18% from 2Q 2022).

  • Net loss: US$12.2m (loss widened by 450% from 2Q 2022).

  • US$0.27 loss per share (further deteriorated from US$0.06 loss in 2Q 2022).

earnings-and-revenue-history
earnings-and-revenue-history

All figures shown in the chart above are for the trailing 12 month (TTM) period

EMCORE Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 2.7%. Earnings per share (EPS) also missed analyst estimates by 37%.

Looking ahead, revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 4.8% growth forecast for the Communications industry in the US.

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Performance of the American Communications industry.

The company's shares are down 2.8% from a week ago.

Risk Analysis

Be aware that EMCORE is showing 2 warning signs in our investment analysis that you should know about...

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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