Society Pass Incorporated (SOPA) Reports Q2 Loss, Misses Revenue Estimates

Group 1 - Society Pass Incorporated (SOPA) reported a quarterly loss of $0.73 per share, which was better than the Zacks Consensus Estimate of a loss of $0.84, and an improvement from a loss of $1.80 per share a year ago, resulting in an earnings surprise of 13.10% [1] - The company posted revenues of $1.71 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 26.57%, and a decline from year-ago revenues of $2.19 million [2] - Society Pass Incorporated shares have decreased by approximately 76.5% since the beginning of the year, contrasting with the S&P 500's gain of 16.4% [3] Group 2 - The earnings outlook for Society Pass Incorporated is mixed, with the current consensus EPS estimate for the coming quarter at -$1.05 on revenues of $2.93 million, and -$3.34 on revenues of $10.92 million for the current fiscal year [7] - The Zacks Industry Rank indicates that the Technology Services sector is currently in the top 29% of over 250 Zacks industries, suggesting that the industry outlook can significantly impact stock performance [8]