Knowit First Quarter 2024 Earnings: Misses Expectations

Knowit (STO:KNOW) First Quarter 2024 Results

Key Financial Results

• Revenue: kr1.77b (down 10% from 1Q 2023).
• Net income: kr61.0m (down 39% from 1Q 2023).
• Profit margin: 3.5% (down from 5.1% in 1Q 2023). The decrease in margin was driven by lower revenue.
• EPS: kr2.23 (down from kr3.64 in 1Q 2023).

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

Knowit Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 2.9%. Earnings per share (EPS) also missed analyst estimates by 15%.

Looking ahead, revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the IT industry in Sweden.

Performance of the Swedish IT industry.

The company's shares are up 9.1% from a week ago.

Risk Analysis

What about risks? Every company has them, and we've spotted 2 warning signs for Knowit you should know about.

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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.