SurgePays Second Quarter 2024 Earnings: EPS Misses Expectations

SurgePays (NASDAQ:SURG) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$15.1m (down 58% from 2Q 2023).
• Net loss: US$12.9m (down by 316% from US$5.97m profit in 2Q 2023).
• US$0.66 loss per share (down from US$0.42 profit in 2Q 2023).

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

SurgePays EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates significantly.

Looking ahead, revenue is expected to decline by 1.3% p.a. on average during the next 2 years, while revenues in the Wireless Telecom industry in the US are expected to grow by 3.9%.

Performance of the American Wireless Telecom industry.

The company's shares are down 21% from a week ago.

Risk Analysis

It is worth noting though that we have found 5 warning signs for SurgePays that you need to take into consideration.

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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.