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HIVE Blockchain Technologies Second Quarter 2023 Earnings: Misses Expectations

HIVE Blockchain Technologies (CVE:HIVE) Second Quarter 2023 Results

Key Financial Results

  • Revenue: US$29.6m (down 45% from 2Q 2022).

  • Net loss: US$37.0m (down by 195% from US$38.9m profit in 2Q 2022).

  • US$0.45 loss per share (down from US$0.51 profit in 2Q 2022).

earnings-and-revenue-history
earnings-and-revenue-history

All figures shown in the chart above are for the trailing 12 month (TTM) period

HIVE Blockchain Technologies Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 5.1%. Earnings per share (EPS) also missed analyst estimates by 136%.

Looking ahead, revenue is expected to decline by 61% p.a. on average during the next 2 years, while revenues in the Software industry in Canada are expected to grow by 16%.

Performance of the Canadian Software industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

Before we wrap up, we've discovered 2 warning signs for HIVE Blockchain Technologies that you should be aware of.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

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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