Investing.com - Akoustis Tech reported on Monday first quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
Akoustis Tech announced earnings per share of $-0.33 on revenue of $5.57M. Analysts polled by Investing.com anticipated EPS of $-0.18 on revenue of $7.76M.
Akoustis Tech shares are down 45% from the beginning of the year and are trading at $3.65 , down-from-52-week-high.
Akoustis Tech shares gained 1.39% in intra-day trade the report.
Akoustis Tech follows other major Information Technology sector earnings this month
Akoustis Tech's report follows an earnings beat by Apple on Thursday, October 27, 2022, who reported EPS of $1.29 on revenue of $90.1B, compared to forecasts EPS of $1.26 on revenue of $88.76B.
Microsoft had beat expectations on Tuesday, October 25, 2022 with first quarter EPS of $2.35 on revenue of $50.1B, compared to forecast for EPS of $2.32 on revenue of $49.86B.
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