Bit Digital Inc reports results for the quarter ended March 31 - Earnings Summary

• Bit Digital Inc BTBT.OQ reported a quarterly adjusted loss of 32 cents​​ per share for the quarter ended March 31, lower than the same quarter last year, when the company reported EPS of 3 cents. The mean expectation of five analysts for the quarter was for a loss of 5 cents per share. Wall Street expected results to range from -8 cents to -1 cents per share.

• Revenue fell 17.1% to $25.11 million from a year ago; analysts expected $26.38 million.

• Bit Digital Inc's reported EPS for the quarter was a loss of 32 cents​.

• The company reported a quarterly loss of $57.71 million.

• Bit Digital Inc shares had risen by 5.9% this quarter and lost 27.0% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 332% 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 5 "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 Bit Digital Inc is $5.50

This summary was machine generated from LSEG data May 15 at 09:00 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)