Company Performance - Peraso reported a quarterly loss of $0.88 per share, significantly worse than the Zacks Consensus Estimate of a loss of $0.29, representing an earnings surprise of -203.45% [1] - The company posted revenues of $4.24 million for the quarter ended June 2024, exceeding the Zacks Consensus Estimate by 0.91%, and showing a year-over-year increase from $2.4 million [2] - Over the last four quarters, Peraso has surpassed consensus EPS estimates two times and topped consensus revenue estimates four times [2] Stock Movement and Outlook - Peraso shares have declined approximately 89% since the beginning of the year, contrasting with the S&P 500's gain of 12% [3] - The company's earnings outlook is crucial for investors, with current consensus EPS estimates at -$0.09 on $5 million in revenues for the upcoming quarter and -$1.16 on $18.02 million in revenues for the current fiscal year [7] Industry Context - The Technology Services industry, to which Peraso belongs, is currently ranked in the top 38% of over 250 Zacks industries, indicating a favorable environment for stock performance [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]
Peraso (PRSO) Reports Q2 Loss, Tops Revenue Estimates