Bitfarms Ltd reports results for the quarter ended June 30 - Earnings Summary

• Bitfarms Ltd BITF.TO reported a quarterly adjusted loss of 5 cents​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of -7 cents. The mean expectation of four analysts for the quarter was for a loss of 2 cents per share. Wall Street expected results to range from -3 cents to -1 cents per share.

• Revenue rose 87.3% to $77.80 million from a year ago; analysts expected $84.12 million.

• Bitfarms Ltd's reported EPS for the quarter was a loss of 5 cents​.

• The company reported a quarterly loss of $28.84 million.

• Bitfarms Ltd shares had risen by 46.4% this quarter and lost 17.4% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 32.7% 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 9 "strong buy" or "buy," no "hold" and no "sell" or "strong sell."

• Wall Street's median 12-month price target for Bitfarms Ltd is $3.13, about 60.6% above its last closing price of $1.23

This summary was machine generated from LSEG data August 12 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)