Yahoo Finance Porch Group First Quarter 2024 Earnings: Beats Expectations
Porch Group (NASDAQ:PRCH) First Quarter 2024 Results
Key Financial Results
Revenue: US$115.4m (up 32% from 1Q 2023).
Net loss: US$13.4m (loss narrowed by 66% from 1Q 2023).
US$0.14 loss per share (improved from US$0.41 loss in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Porch Group Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 10%. Earnings per share (EPS) also surpassed analyst estimates by 59%.
Looking ahead, revenue is forecast to grow 9.3% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Software industry in the US.
Performance of the American Software industry.
The company's shares are down 20% from a week ago.
Valuation
Our analysis of these results suggests Porch Group may be undervalued based on 6 important criteria we look at. Click here to view our comprehensive analysis and gain insights into the stock's investment prospects.
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