Innoviz Technologies Ltd reports results for the quarter ended in June - Earnings Summary

Innoviz Technologies

07/08/2024 14:32

* Innoviz Technologies Ltd  INVZ.OQ  reported a quarterly
adjusted
loss of 13 cents​​ per share for the quarter ended in June,
higher than the same quarter last year, when the company
reported EPS of -23 cents.  The mean expectation of
five analysts for the quarter was for a loss of 15 cents per
share. Wall Street expected results to range from -18 cents
to -10 cents per share.
    * Revenue rose 354.6% to $6.66 million from a year ago;
analysts
expected $4.60 million. 
    * Innoviz Technologies Ltd's reported EPS for the quarter
was a
loss of 13 cents​.
    * The company reported a quarterly loss of $21.17 million.
    * Innoviz Technologies Ltd shares had fallen by 20.7% this
quarter and lost 70.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 1.3%
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 3 "strong buy" or "buy," 2
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the electronic
equipment & parts peer group is also "buy"

Wall Street's median 12-month price target for Innoviz
Technologies Ltd is $3.13 
This summary was machine generated from LSEG data August 7 at
01:32 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
 Jun. 30 2024      -0.15          -0.13          Beat
 Mar. 31 2024      -0.15          -0.18          Missed
 Dec. 31 2023      -0.18          -0.18          Met
 Sep. 30 2023      -0.22          -0.18          Beat