Accuray (ARAY) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
Accuray (ARAY) reported $107.24 million in revenue for the quarter ended December 2023, representing a year-over-year decline of 6.6%. EPS of -$0.10 for the same period compares to -$0.02 a year ago.
The reported revenue represents a surprise of +0.12% over the Zacks Consensus Estimate of $107.11 million. With the consensus EPS estimate being -$0.07, the EPS surprise was -42.86%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Accuray performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Order Backlog: $492.10 million compared to the $462.45 million average estimate based on two analysts.
Net Orders: $54.61 million versus the two-analyst average estimate of $61.16 million.
Gross Orders: $93.86 million versus $81.74 million estimated by two analysts on average.
Net revenue- Services: $55.70 million compared to the $50.70 million average estimate based on two analysts. The reported number represents a change of +8.2% year over year.
Net revenue- Products: $51.54 million versus the two-analyst average estimate of $56.41 million. The reported number represents a year-over-year change of -18.5%.
View all Key Company Metrics for Accuray here>>>
Shares of Accuray have returned -5.3% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Accuray Incorporated (ARAY) : Free Stock Analysis Report
