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

Cytek Biosciences

09/05/2024 21:57

* Cytek Biosciences Inc  CTKB.OQ  reported a quarterly
adjusted
loss of 5 cents​​ per share for the quarter ended in March,
lower than the same quarter last year, when the company reported
breakeven earnings per share.  The mean expectation of
six analysts for the quarter was for a loss of 4 cents per
share. Wall Street expected results to range from -7 cents to -2
cents per share.
    * Revenue rose 21% to $44.86 million from a year ago;
analysts
expected $43.59 million. 
    * Cytek Biosciences Inc's reported EPS for the quarter was a
loss
of 5 cents​.
    * The company reported a quarterly loss of $6.17 million.
    * Cytek Biosciences Inc shares had fallen by 6.6% this
quarter and
lost 31.2% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 25.9%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

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 $10.00 
This summary was machine generated from LSEG data May 9 at 08:57
p.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
 Mar. 31 2024      -0.04          -0.05          Missed
 Dec. 31 2023      0.00           0.04           Beat
 Sep. 30 2023      0.03           0.00           Missed
 Jun. 30 2023      0.03           0.01           Missed