Argo Blockchain Second Quarter 2024 Earnings: Misses Expectations

Argo Blockchain (LON:ARB) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$12.4m (down 1.1% from 2Q 2023).
• Net loss: US$29.6m (loss widened by 293% from 2Q 2023).
• US$0.035 loss per share (further deteriorated from US$0.016 loss in 2Q 2023).

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

Argo Blockchain Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 15%. Earnings per share (EPS) also missed analyst estimates.

Looking ahead, revenue is forecast to grow 31% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Software industry in the United Kingdom.

Performance of the British Software industry.

The company's shares are down 2.4% from a week ago.

Risk Analysis

You still need to take note of risks, for example - Argo Blockchain has 5 warning signs (and 2 which are significant) we think you should know about.

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.