Rigetti Computing Inc reports results for the quarter ended June 30 - Earnings Summary

• Rigetti Computing Inc RGTI.OQ reported a quarterly adjusted loss of 6 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 seven analysts for the quarter was for a loss of 5 cents per share. Wall Street expected results to range from -6 cents to -3 cents per share.

• Revenue fell 41.6% to $1.80 million from a year ago; analysts expected $1.87 million.

• Rigetti Computing Inc's reported EPS for the quarter was a loss of 13 cents​.

• The company reported a quarterly loss of $39.65 million.

• Rigetti Computing Inc shares had risen by 34.7% this quarter and gained 4.7% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 51.5% in the last three months.​

• In the last 30 days, there have been no negative revisions of earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy," no "hold" and no "sell" or "strong sell." The average consensus recommendation for the semiconductors peer group is also "buy"

• Wall Street's median 12-month price target for Rigetti Computing Inc is $16.50, about 3.2% above its last closing price of $15.98

This summary was machine generated from LSEG data August 12 at 09:01 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)