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

• Bitfarms Ltd BITF.TO reported a quarterly adjusted loss of 3 cents​​ per share for the quarter ended March 31, lower than the same quarter last year, when the company reported EPS of -2 cents. The mean expectation of five analysts for the quarter was for a loss of 3 cents per share. Wall Street expected results to range from -5 cents to -1 cents per share.

• Revenue rose 32.9% to $66.85 million from a year ago; analysts expected $67.33 million.

• Bitfarms Ltd's reported EPS for the quarter was a loss of 70 cents​.

• The company reported a quarterly loss of $35.88 million.

• Bitfarms Ltd shares had risen by 47.2% this quarter and lost 22.1% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 50% 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 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 $3.13

This summary was machine generated from LSEG data May 14 at 01:31 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)