Identiv, Inc. (INVE) Reports Q2 Loss, Lags Revenue Estimates

Company Performance - Identiv, Inc. reported a quarterly loss of $0.31 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.26, and compared to a loss of $0.06 per share a year ago, indicating a significant decline in performance [1] - The company posted revenues of $6.74 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 71.91%, and a sharp decline from year-ago revenues of $29.56 million [2] - Over the last four quarters, Identiv has surpassed consensus EPS estimates only once, indicating ongoing challenges in meeting market expectations [2] Stock Performance - Identiv shares have lost approximately 56.3% since the beginning of the year, contrasting sharply with the S&P 500's gain of 9% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.17 on revenues of $29.5 million, and for the current fiscal year, it is -$0.82 on revenues of $104.3 million [7] Industry Outlook - The Computer - Peripheral Equipment industry, to which Identiv belongs, is currently ranked in the top 43% of over 250 Zacks industries, suggesting a relatively favorable position within the market [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Identiv's stock performance [5]