Data Storage Second Quarter 2024 Earnings: Misses Expectations

Data Storage (NASDAQ:DTST) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$4.91m (down 17% from 2Q 2023).
• Net loss: US$244.2k (down by 208% from US$226.8k profit in 2Q 2023).
• US$0.035 loss per share (down from US$0.033 profit in 2Q 2023).

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

Data Storage Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 23%. Earnings per share (EPS) was also behind analyst expectations.

Looking ahead, revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 9.0% growth forecast for the IT industry in the US.

Performance of the American IT industry.

The company's shares are down 7.0% from a week ago.

Risk Analysis

You still need to take note of risks, for example - Data Storage has 3 warning signs we think you should be aware of.

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