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, still down 53.97% from its 52 week high of $7.93 set on November 15, 2021.
Akoustis Tech shares gained 1.39% 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 Apple on October 27, 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 October 25 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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