SurgePays Third Quarter 2024 Earnings: Misses Expectations

Simply Wall St

November 15, 2024

SurgePays (NASDAQ:SURG) Third Quarter 2024 Results

Key Financial Results

Revenue: US$4.77m (down 86% from 3Q 2023).
Net loss: US$14.3m (down by 302% from US$7.08m profit in 3Q 2023).
US$0.72 loss per share (down from US$0.50 profit in 3Q 2023).

earnings-and-revenue-growth — NasdaqCM:SURG Earnings and Revenue Growth November 15th 2024

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

SurgePays Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 45%. Earnings per share (EPS) also missed analyst estimates by 174%.

Looking ahead, revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 4.4% growth forecast for the Wireless Telecom industry in the US.

Performance of the American Wireless Telecom industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

You should learn about the 5 warning signs we've spotted with SurgePays.

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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.