Yahoo Finance Avid Bioservices Second Quarter 2023 Earnings: Revenues Beat Expectations, EPS Lags
Avid Bioservices (NASDAQ:CDMO) Second Quarter 2023 Results
Key Financial Results
Revenue: US$34.8m (up 33% from 2Q 2022).
Net loss: US$1.16m (down by 133% from US$3.52m profit in 2Q 2022).
US$0.019 loss per share (down from US$0.057 profit in 2Q 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Avid Bioservices Revenues Beat Expectations, EPS Falls Short
Revenue exceeded analyst estimates by 8.4%. Earnings per share (EPS) missed analyst estimates.
Looking ahead, revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Biotechs industry in the US.
Performance of the American Biotechs industry.
The company's shares are down 20% from a week ago.
Risk Analysis
It's still necessary to consider the ever-present spectre of investment risk. We've identified 2 warning signs with Avid Bioservices, and understanding these should be part of your investment process.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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