Investing.com - Akoustis Tech reported on Monday first quarter earnings that missed analysts' forecasts and revenue that topped expectations.
Akoustis Tech announced earnings per share of $-0.2877 on revenue of $6.23M. Analysts polled by Investing.com anticipated EPS of $-0.21 on revenue of $6.2M.
Akoustis Tech shares are down 39% from the beginning of the year, still down 62.23% from its 52 week high of $10.75 set on September 27, 2021.
Akoustis Tech shares lost 8.35% in intra-day trade following the report.
Akoustis Tech follows other major Information Technology sector earnings this month
Akoustis Tech's report follows an earnings beat by NVIDIA on August 24, who reported EPS of $0.51 on revenue of $6.7B, compared to forecasts EPS of $0.4991 on revenue of $6.7B.
Broadcom had beat expectations on September 1 with third quarter EPS of $9.73 on revenue of $8.46B, compared to forecast for EPS of $9.56 on revenue of $8.41B.
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