Hut 8 Corp reports results for the quarter ended September 30 - Earnings Summary

• Hut 8 Corp reported quarterly adjusted earnings of 80 cents​​ per share for the quarter ended September 30, higher than the same quarter last year, when the company reported EPS of 43 cents. The mean expectation of twenty analysts for the quarter was for a loss of 91 cents per share. Wall Street expected results to range from $-1.68 to -42 cents per share.

• Revenue fell 14.9% to $71.07 million from a year ago; analysts expected $75.93 million.

• Hut 8 Corp's reported EPS for the quarter was 98 cents​.

• The company reported quarterly net income of $131.07 million.

• Hut 8 Corp shares had fallen by 26.0% this quarter and gained 38.8% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 10% in the last three months.​

• In the last 30 days, one analyst negatively revised an earnings estimate

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 21 "strong buy" or "buy," no "hold" and no "sell" or "strong sell." The average consensus recommendation for the blockchain & cryptocurrency peer group is also "buy"

• Wall Street's median 12-month price target for Hut 8 Corp is $134.00, about 52.4% above its last closing price of $63.75

This summary was machine generated from LSEG data November 4 at 02:32 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)