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For the second quarter, INSG expects revenues of $52-$56 million.
The Zacks Consensus Estimate for revenues is currently pegged at $53.63 million, suggesting an increase of 0.14% from the year-ago quarter’s reported figure.
For the quarter under review, the consensus mark for earnings remained steady at 3 cents per share over the past 30 days.
Over the trailing four quarters, the company’s earnings beat the Zacks Consensus Estimate twice and missed in the remaining two, the average negative surprise being 181.39%.
Let’s see how things have shaped up prior to this announcement.
Key Factors to Consider
Inseego’s second-quarter 2024 performance is expected to have benefited from robust carrier demand for Inseego’s mobile products, driven by structural demand and promotional activities from carrier customers.
The company also expects ongoing growth in its Fixed Wireless Access (FWA) business due to early traction from its rebranding and relaunch of the Inseego Ignite channel program.
Revenues from subscription renewals and SaaS offerings are expected to be up, contributing to overall revenue growth. The renewal contract signed with a key carrier partner will boost revenues and profitability for the next two years.
Services and other revenues are expected to have witnessed sequential growth, largely due to added revenues from a subscription renewal, which includes SaaS subscription expansion and increased professional services revenues.
The new channel program, Inseego Ignite, is starting to show positive results and is anticipated to have contributed to increased revenues by diversifying the revenue base and expanding go-to-market capabilities.
What Our Model Indicates
Per 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.
Inseego has an Earnings ESP of 0.00% and a Zacks Rank #3 at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
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Inseego (INSG) to Report Q2 Earnings: What's in the Cards?
Inseego (INSG - Free Report) is set to report second-quarter 2024 results on Aug 7.
For the second quarter, INSG expects revenues of $52-$56 million.
The Zacks Consensus Estimate for revenues is currently pegged at $53.63 million, suggesting an increase of 0.14% from the year-ago quarter’s reported figure.
For the quarter under review, the consensus mark for earnings remained steady at 3 cents per share over the past 30 days.
Inseego Price and EPS Surprise
Inseego price-eps-surprise | Inseego Quote
Over the trailing four quarters, the company’s earnings beat the Zacks Consensus Estimate twice and missed in the remaining two, the average negative surprise being 181.39%.
Let’s see how things have shaped up prior to this announcement.
Key Factors to Consider
Inseego’s second-quarter 2024 performance is expected to have benefited from robust carrier demand for Inseego’s mobile products, driven by structural demand and promotional activities from carrier customers.
The company also expects ongoing growth in its Fixed Wireless Access (FWA) business due to early traction from its rebranding and relaunch of the Inseego Ignite channel program.
Revenues from subscription renewals and SaaS offerings are expected to be up, contributing to overall revenue growth. The renewal contract signed with a key carrier partner will boost revenues and profitability for the next two years.
Services and other revenues are expected to have witnessed sequential growth, largely due to added revenues from a subscription renewal, which includes SaaS subscription expansion and increased professional services revenues.
The new channel program, Inseego Ignite, is starting to show positive results and is anticipated to have contributed to increased revenues by diversifying the revenue base and expanding go-to-market capabilities.
What Our Model Indicates
Per 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.
Inseego has an Earnings ESP of 0.00% and a Zacks Rank #3 at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
Shopify (SHOP - Free Report) has an Earnings ESP of +7.78% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Shopify’s shares have declined 30.1% year to date. SHOP is set to report its second-quarter 2024 results on Aug 7.
DigitalOcean (DOCN - Free Report) has an Earnings ESP of +2.19% and a Zacks Rank of #1 at present.
DigitalOcean’s shares have declined 21.8% year to date. DOCN is set to report its second-quarter 2024 results on Aug 8.
MKSI (MKSI - Free Report) has an Earnings ESP of +7.28% and a Zacks Rank #1.
MKSI’s shares have gained 3.6% year to date. MKSI is set to report second-quarter 2024 results on Aug 7.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.