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IONQ Gears Up to Report Q4 Earnings: What's in the Cards?
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IonQ (IONQ - Free Report) is set to report fourth-quarter 2023 results on Feb 28.
The Zacks Consensus Estimate for fourth-quarter revenues is pegged at $5.7 million, indicating an increase of 49.61% from the year-ago quarter.
The Zacks Consensus Estimate for IONQ’s fourth-quarter loss per share has remained steady at 23 cents over the past 30 days, indicating a decline of 155.56% from the year-ago quarter.
IonQ’s fourth-quarter results are expected to reflect an increase in customers, boosted by the launch of IonQ Forte, a #AQ 35 quantum computer. The company’s recent partnerships are likely to have a positive impact on the top line in the to-be-reported quarter.
Operating margin has been high in the previous few quarters, which has weighed down the margins. This trend is expected to have continued in the to-be-reported quarter.
In the third quarter, results were driven by a strong cash position and wide margin. The company believes that it is sufficiently funded to deliver strong results in the to-be-reported quarter.
In the fourth quarter, IonQ Forte was made available on Amazon (AMZN - Free Report) Braket, which is Amazon Web Services’ quantum computing service. This expands upon IONQ’s existing presence on Amazon Braket, following the debut of the company’s Harmony system on the platform in 2020. This is expected to have boosted the top line in the to-be-reported quarter.
In the third quarter, potential customers noticed the superior performance of IonQ Systems, which resulted in the rapidly rising demand for IonQ Compute time. This trend is likely to have continued in the to-be-reported quarter.
What Our Model Indicates
According to the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
IonQ has an Earnings ESP of 0.00% and a Zacks Rank of 3 at present. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Stocks With the Favorable Combination
Here are some stocks, which according to our model, have the right combination of elements to beat on earnings this season.
GWRE is scheduled to release second-quarter fiscal 2024 results on Mar 7. The Zacks Consensus Estimate for GWRE’s earnings is pegged at 21 cents per share. The company had incurred a loss of 21 cents per share in the prior-year quarter.
JD.com (JD - Free Report) has an Earnings ESP of +0.78% and a Zacks Rank of 3 at present.
JD is set to report its fourth-quarter 2023 results on Mar 6. The Zacks Consensus Estimate for JD’s earnings is pegged at 65 cents per share. The company reported earnings of 70 cents per share in the year-ago quarter.
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IONQ Gears Up to Report Q4 Earnings: What's in the Cards?
IonQ (IONQ - Free Report) is set to report fourth-quarter 2023 results on Feb 28.
The Zacks Consensus Estimate for fourth-quarter revenues is pegged at $5.7 million, indicating an increase of 49.61% from the year-ago quarter.
The Zacks Consensus Estimate for IONQ’s fourth-quarter loss per share has remained steady at 23 cents over the past 30 days, indicating a decline of 155.56% from the year-ago quarter.
IonQ, Inc. Price and EPS Surprise
IonQ, Inc. price-eps-surprise | IonQ, Inc. Quote
Factors to Note
IonQ’s fourth-quarter results are expected to reflect an increase in customers, boosted by the launch of IonQ Forte, a #AQ 35 quantum computer. The company’s recent partnerships are likely to have a positive impact on the top line in the to-be-reported quarter.
Operating margin has been high in the previous few quarters, which has weighed down the margins. This trend is expected to have continued in the to-be-reported quarter.
In the third quarter, results were driven by a strong cash position and wide margin. The company believes that it is sufficiently funded to deliver strong results in the to-be-reported quarter.
In the fourth quarter, IonQ Forte was made available on Amazon (AMZN - Free Report) Braket, which is Amazon Web Services’ quantum computing service. This expands upon IONQ’s existing presence on Amazon Braket, following the debut of the company’s Harmony system on the platform in 2020. This is expected to have boosted the top line in the to-be-reported quarter.
In the third quarter, potential customers noticed the superior performance of IonQ Systems, which resulted in the rapidly rising demand for IonQ Compute time. This trend is likely to have continued in the to-be-reported quarter.
What Our Model Indicates
According to the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
IonQ has an Earnings ESP of 0.00% and a Zacks Rank of 3 at present. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Stocks With the Favorable Combination
Here are some stocks, which according to our model, have the right combination of elements to beat on earnings this season.
Guidewire Software (GWRE - Free Report) has an Earnings ESP of +4.76% and a Zacks Rank of 3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
GWRE is scheduled to release second-quarter fiscal 2024 results on Mar 7. The Zacks Consensus Estimate for GWRE’s earnings is pegged at 21 cents per share. The company had incurred a loss of 21 cents per share in the prior-year quarter.
JD.com (JD - Free Report) has an Earnings ESP of +0.78% and a Zacks Rank of 3 at present.
JD is set to report its fourth-quarter 2023 results on Mar 6. The Zacks Consensus Estimate for JD’s earnings is pegged at 65 cents per share. The company reported earnings of 70 cents per share in the year-ago quarter.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.