The company reported a loss from continuing operations of $1.61 per share, a sharp decline from the 44-cent loss recorded in the same period last year. This result fell well short of the $1.02-per-share loss anticipated by analysts surveyed by FactSet. Overall, the net loss reached $23.1 million, or $1.36 per share, nearly doubling the $11 million loss posted in the first quarter of the prior year.
In section Market Quotes
Prenetics Global Shares Slide Despite Revenue Growth
Prenetics Global shares dropped 8.2% to $19.21 after the consumer-health firm revealed first-quarter losses that significantly outpaced Wall Street projections. While revenue surged fourfold to $36 million, the company’s bottom line failed to meet analyst expectations, tempering investor optimism despite a 22% gain in the stock price since the start of the year.
Despite the earnings miss, Prenetics provided an optimistic outlook for the coming months. The company projected second-quarter revenue between $46 million and $48 million, positioning itself slightly ahead of the $45.9 million consensus estimate held by market analysts.
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