Affymax Earnings:Here’s Why the Stock is Falling Now
Affymax, Inc. (NASDAQ:AFFY) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 6.62 percent.
Affymax, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-1.85 in the quarter versus EPS of $-0.88 in the year-earlier quarter.
Revenue: Decreased 76.6 percent to $14.79 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Affymax, Inc. reported adjusted EPS loss of $1.85 per share. By that measure, the company missed the mean analyst estimate of $-0.61. It missed the average revenue estimate of $14.81 million.
Key Stats (on next page)…
Revenue increased 8.67% from $13.61 million in the previous quarter. EPS decreased to $-1.85 in the quarter versus EPS of $-0.68 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a loss of $0.44 to a loss $0.55. For the current year, the average estimate has moved down from a loss of $1.23 to a loss of $1.31 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)