Quantum Computing (NASDAQ:QUBT) Reports Earnings, Fails to Meet Expectations by $0.42 EPS

Quantum Computing Inc. (NASDAQ:QUBT) announced its quarterly earnings on Thursday, revealing a loss of ($0.47) earnings per share (EPS) for the most recent quarter. This figure significantly missed the analysts' consensus estimate of ($0.05) EPS by ($0.42), according to various financial reports. In the same quarter of the previous year, the company had reported a loss of ($0.09) EPS.

Stock Performance

Following the earnings report, Quantum Computing's stock saw a decline, trading down by 11.7% to reach a price of $7.39. During the trading session, the stock recorded a volume of 35,124,269 shares, which is notably higher than its average trading volume of 15,548,500 shares. As of now, the company holds a market capitalization of $1.01 billion, with a price-to-earnings (P/E) ratio of -25.48 and a beta value of 3.26. The stock has a fifty-day moving average of $8.19 and a 200-day moving average of $6.27. Over the past year, Quantum Computing has experienced a range in share price from a low of $0.35 to a high of $27.15.

About Quantum Computing

Quantum Computing Inc. specializes in integrated photonics, offering innovative solutions in the quantum computing space. The company develops accessible and cost-effective quantum machines, including portable, low-power quantum computers known as Dirac systems. Their offerings range from room-temperature qubit and qudit entropy quantum computers to advanced solutions like reservoir computing and single-photon imaging. Additionally, Quantum Computing provides a unique quantum random number generator (uQRNG), a device designed to deliver genuine random numbers sourced directly from quantum processes. They also feature quantum authentication technology that promotes enhanced security by overcoming the limitations of traditional cryptographic methods, integrating smoothly into existing communication systems.

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Earnings, Stocks, Quantum Computing