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.

Earnings

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.

Past Earnings Performance

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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