Cineverse (NASDAQ:CNVS) Releases Earnings Results, Beats Expectations By $0.15 EPS

Posted by Samantha Reynolds on Jul 3rd, 2024

Cineverse (NASDAQ:CNVS – Get Free Report) released its earnings results on Monday. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.15, Zacks reports. The business had revenue of $9.86 million for the quarter. Cineverse had a negative return on equity of 24.65% and a negative net margin of 18.84%.

Cineverse Trading Down 12.0 %

NASDAQ:CNVS opened at $0.79 on Wednesday. The firm’s fifty day moving average price is $0.90 and its two-hundred day moving average price is $1.21. Cineverse has a one year low of $0.78 and a one year high of $3.93.

Analysts Set New Price Targets

Separately, Benchmark reissued a “speculative buy” rating and issued a $9.00 target price on shares of Cineverse in a research note on Tuesday.

Check Out Our Latest Research Report on Cineverse

Cineverse Company Profile

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Cineverse Corp. operates as a streaming technology and entertainment company. The company operates in two segments, Cinema Equipment, and Content and Entertainment. It owns and operates streaming channels, through its proprietary technology platform. The company also delivers curated content through subscription video on demand (SVOD), dedicated ad-supported (AVOD), and ad-supported streaming linear (FAST) channels, as well as social video streaming services and audio podcasts; operates OTT streaming entertainment channels; and offers monitoring, billing, collection, and verification services.