Bit Digital, Inc. (BTBT) Misses Revenue Estimates With Q1 Loss
Bit Digital, Inc. (BTBT) reported a quarterly loss of $0.05 per share, which matched the Zacks Consensus Estimate. This result contrasts with earnings of $0.03 per share recorded in the same period last year. The financials have been adjusted for one-time events.
A few months back, the prediction for this company was a loss of $0.04 per share; however, they ended up reporting a loss of $0.11, resulting in an unexpected shortfall of 175%.
In the past four quarters, the company has exceeded the average earnings per share forecasts only one time.
Bit Digital, part of the Zacks Technology Services sector, reported revenues of $25.11 million for the quarter ending March 2025, falling short of the Zacks Consensus Estimate by 4.22%. In comparison, the previous year’s revenue was $30.29 million during the same period. Over the past four quarters, the company has exceeded the average revenue forecast provided by analysts twice.
The potential for the stock’s short-term price fluctuation following the recent data release and projected future profits largely hinges on what insights the company’s leadership provides during the earnings discussion.
The value of Bit Digital’s stock has dropped approximately 27% this year compared to the S&P 500’s increase of 0.2%.
What’s Ahead for Bit Digital?
As Bit Digital hasn’t met market expectations yet this year, investors are wondering about the future prospects of the stock.
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company’s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical studies indicate a significant connection between short-term fluctuations in stocks and changes in earnings estimates. Investors have the option to monitor these adjustments independently or utilize a reliable ranking system such as the Zacks Rank, known for effectively leveraging shifts in earnings estimates.
Before this earnings announcement, the revision trends for Bit Digital’s estimates have been mixed. Although these revisions might shift after the company releases its latest financials, their present state indicates a Zacks Rank #3 (Hold). This suggests that the stock should follow the overall market performance in the coming period. For a full list of today’s Zacks #1 Rank (Strong Buy) equities, you may want to check out our updated listings.
We’ll be watching closely as forecasts for upcoming quarters and this fiscal year evolve over the next few days. Currently, analysts predict an earnings per share of -$0.02 with sales reaching $35.46 million for the approaching quarter, along with an EPS projection of -$0.04 against expected revenues of $158.34 million for the ongoing fiscal period.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Technology Services is currently in the top 20% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Sprinklr (CXM), another stock in the same industry, has yet to report results for the quarter ended April 2025. The results are expected to be released on June 4.
The anticipated quarterly earnings from this company specializing in customer experience solutions are projected at $0.10 per share, marking an increase of approximately 11.1% compared to the same period last year. Over the past thirty days, the average estimated profit per share set by analysts has not fluctuated.
It is anticipated that Sprinklr’s revenue will reach $201.89 million, marking a 3% increase compared to the same period last year.
The article was initially published on Zacks Investment Research ().