Cytek Biosciences Inc reports results for the quarter ended in June - Earnings Summary

Cytek Biosciences

07/08/2024 10:45

* Cytek Biosciences Inc  CTKB.OQ  reported a quarterly
adjusted
loss of 8 cents​​ per share for the quarter ended in June, lower
than the same quarter last year, when the company reported EPS
of 1 cents.  The mean expectation of five analysts for the
quarter was for a loss of 3 cents per share. Wall Street
expected results to range from -4 cents to -2 cents per share.
    * Revenue fell 6.2% to $46.62 million from a year ago;
analysts
expected $49.53 million. 
    * Cytek Biosciences Inc's reported EPS for the quarter was a
loss
of 8 cents​.
    * The company reported a quarterly loss of $10.43 million.
    * Cytek Biosciences Inc shares had risen by 0.7% this
quarter and
lost 38.4% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 15.4%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 4 "strong buy" or "buy," 2
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the advanced
medical
equipment & technology peer group is also "buy"

Wall Street's median 12-month price target for Cytek Biosciences
Inc is $9.00 
This summary was machine generated from LSEG data August 7 at
09:45 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jan. 1 0001       -0.03          -0.08          Missed
 Mar. 31 2024      -0.04          -0.05          Missed
 Dec. 31 2023      0.00           0.04           Beat
 Sep. 30 2023      0.03           0.00           Missed