Recap: Canaan Q1 Earnings

Canaan CAN reported its Q1 earnings results on Friday, May 26, 2023 at 06:00 AM.

Here's what investors need to know about the announcement.

Canaan missed estimated earnings by 104.76%, reporting an EPS of $-0.43 versus an estimate of $-0.21.

Revenue was down $158.69 million from the same period last year.

Last quarter the company missed on EPS by $0.15 which was followed by a 3.83% drop in the share price the next day.

Here's a look at Canaan's past performance:

Quarter	Q4 2022	Q3 2022	Q2 2022	Q1 2022
EPS Estimate	-0.15	0.07	0.35	0.06
EPS Actual	-0.30	0.14	0.60	0.50
Revenue Estimate	43.59M	151.64M	257.70M	27.18M
Revenue Actual	56.83M	137.51M	246.74M	213.92M

To track all earnings releases for Canaan visit their earnings calendar here.

This article was generated by Benzinga's automated content engine and reviewed by an editor.

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