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

Innoviz Technologies

08/05/2024 14:53

* Innoviz Technologies Ltd  INVZ.OQ  reported a quarterly
adjusted
loss of 18 cents​​ per share for the quarter ended in March,
higher than the same quarter last year, when the company
reported EPS of -26 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 -16 cents
to -11 cents per share.
    * Revenue rose 598.7% to $7.06 million from a year ago;
analysts
expected $5.60 million. 
    * Innoviz Technologies Ltd's reported EPS for the quarter
was a
loss of 18 cents​.
    * The company reported a quarterly loss of $30.14 million.
    * Innoviz Technologies Ltd shares had fallen by 17.0% this
quarter and lost 55.7% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 21.1%
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," 1
"hold" and no "sell" or "strong sell." 
    * Wall Street's median 12-month price target for Innoviz
Technologies Ltd is $3.63 

This summary was machine generated from LSEG data May 8 at 01:53
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      -0.15          -0.18          Missed
 Dec. 31 2023      -0.18          -0.18          Met
 Sep. 30 2023      -0.22          -0.18          Beat
 Jun. 30 2023      -0.22          -0.23          Missed