Riot Platforms Third Quarter 2024 Earnings: Misses Expectations

Riot Platforms (NASDAQ:RIOT) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$84.8m (up 63% from 3Q 2023).
• Net loss: US$154.4m (loss widened by 241% from 3Q 2023).
• US$0.54 loss per share (further deteriorated from US$0.25 loss in 3Q 2023).

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

Riot Platforms Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 7.5%. Earnings per share (EPS) also missed analyst estimates by 157%.

Looking ahead, revenue is forecast to grow 51% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Software industry in the US.

Performance of the American Software industry.

The company's shares are down 4.1% from a week ago.

Risk Analysis

It's necessary to consider the ever-present spectre of investment risk. We've identified 5 warning signs with Riot Platforms (at least 2 which don't sit too well with us), and understanding them should be part of your investment process.

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