Bitfarms Ltd reports results for the quarter ended December 31 - Earnings Summary

• Bitfarms Ltd BITF.TO reported quarterly adjusted earnings of 3 cents​​ per share for the quarter ended December 31, higher than the same quarter last year, when the company reported EPS of -19 cents. The mean expectation of six analysts for the quarter was for a loss of 4 cents per share. Wall Street expected results to range from -5 cents to -3 cents per share.

• Revenue rose 21.5% to $56.16 million from a year ago; analysts expected $53.74 million.

• Bitfarms Ltd's reported EPS for the quarter was 3 cents​.

• The company reported quarterly net income of $15.17 million.

• Bitfarms Ltd shares had fallen by 33.7% this quarter.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 14.3% in the last three months.​

• In the last 30 days, there have been no earnings estimate revisions by analysts covering the company.

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "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 Bitfarms Ltd is $4.00

This summary was machine generated from LSEG data March 27 at 03:45 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)