Quantum (QMCO) Q1 Loss Wider Than Expected, Sales Fall Y/Y

Quantum Corporation (QMCO) reported a first-quarter fiscal 2025 non-GAAP loss of 9 cents per share, wider than the Zacks Consensus Estimate of a loss of 2 cents. The company incurred a loss of 4 cents per share in the year-ago quarter. QMCO generated revenues of $71.3 million, down 23% year over year. The top line missed the consensus mark by 0.9%. The decline in revenues is primarily attributed to lower contributions from hyperscale customers and reduced sales in tape media and royalty business. Management ...