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.-
10 Stocks With the Largest Fair Value Estimate Increases After Q1 Earnings
-
Markets Brief: Inflation Back in the Spotlight
-
AI Is Booming, but Consumer Spending Is Slowing. Which Will Prevail in the Stock Market?
-
What’s Happening In the Markets This Week
-
Is the Era of Volatility-Suppressing Policies Possibly Over?
-
5 Undervalued Stocks That Crushed Earnings for Q1 2024
-
What Does Nvidia’s Stock Split Mean for Investors?
-
After Earnings, Is Home Depot Stock a Buy, a Sell, or Fairly Valued?
-
After Earnings, Is Target Stock a Buy, Sell, or Fairly Valued?
-
Obesity Drug Stocks: Where to Invest Now
-
How to Invest Like Warren Buffett
-
DuPont Split Gives Investors Better Choices
-
2 Wide-Moat Stocks to Consider
-
Live Nation: Breakup Sought by Department of Justice Probably Wouldn’t Affect Fair Value Much
-
After Earnings, Is Applied Materials Stock a Buy, Sell, or Fairly Valued?
-
The Best Energy Stocks to Buy