Loop Media (LPTV) Reports Q3 Loss, Misses Revenue Estimates

Company Performance - Loop Media reported a quarterly loss of $0.07 per share, better than the Zacks Consensus Estimate of a loss of $0.09, and an improvement from a loss of $0.15 per share a year ago, resulting in an earnings surprise of 22.22% [1] - The company posted revenues of $4.35 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 2.55%, and down from $5.74 million in the same quarter last year [2] - Over the last four quarters, Loop Media has surpassed consensus EPS estimates two times and topped consensus revenue estimates just once [2] Stock Performance - Loop Media shares have declined approximately 88.5% since the beginning of the year, contrasting with the S&P 500's gain of 9.9% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.06 on revenues of $8.21 million, and for the current fiscal year, it is -$0.35 on revenues of $26.84 million [7] Industry Outlook - The Broadcast Radio and Television industry, to which Loop Media belongs, is currently ranked in the bottom 41% of over 250 Zacks industries, indicating potential challenges for stock performance [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Loop Media's stock performance [5]