Cipher Mining Shares Fall 14% on 1Q Revenue Miss
By Sabela Ojea
Shares of Cipher Mining dropped after the company reported lower-than-expected revenue in the latest quarter.
At 3:25 p.m. EDT on Tuesday, shares were down 14% to $3.86.
The developer and operator of bitcoin mining data centers posted a first-quarter net profit of $39.9 million, or 13 cents a share, compared with a loss of $4.6 million, or 2 cents a share, for the same period a year earlier.
Revenue jumped to $48.1 million from $21.9 million a year ago, but missed analysts expectations of $50.3 million, according to FactSet.
Write to Sabela Ojea at sabela.ojea@wsj.com
(END) Dow Jones Newswires
May 07, 2024 15:50 ET (19:50 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
How Anti-Obesity Drugs Are Innovating the Healthcare Market
-
What’s Happening In the Markets This Week
-
Why Immigration Has Boosted Job Gains and the Economy
-
What to Invest in During High Inflation
-
Never Mind Market Efficiency: Are the Markets Sensible?
-
Starbucks Stock Could Use a Pick-Me-Up After Big Selloff; Is it a Buy?
-
5 Cheap Stocks to Buy From an Attractive Part of the Market
-
Markets Brief: All Eyes On Inflation
-
After Earnings, Is Lyft Stock a Buy, a Sell, or Fairly Valued?
-
8 Stock Picks in the Apparel Industry
-
Baidu Earnings: Advertising Weakness Offset by Continued Growth In Cloud Business
-
Going Into Earnings, Is Target Stock a Buy, a Sell, or Fairly Valued?
-
Walmart Earnings: Low Prices and Strong Digital Presence Drive Market Share Gains
-
After Earnings and a Big Selloff, Is Shopify Stock a Buy, a Sell, or Fairly Valued?
-
Cisco Earnings: Positive Guidance and Splunk Inclusion Align With Our Long-Term Thesis
-
3 Warren Buffett Stocks to Buy After Berkshire Hathaway’s Just-Released 13F Filing