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Cipher Mining First Quarter 2024 Earnings: EPS: US$0.14 (vs US$0.027 loss in 1Q 2023)

editorial-team@simplywallst.com (Simply Wall St)
·1-min read

Cipher Mining (NASDAQ:CIFR) First Quarter 2024 Results

Key Financial Results

  • Revenue: US$48.1m (up 120% from 1Q 2023).

  • Net income: US$39.9m (up from US$6.60m loss in 1Q 2023).

  • Profit margin: 83% (up from net loss in 1Q 2023). The move to profitability was primarily driven by higher revenue.

  • EPS: US$0.14 (up from US$0.027 loss in 1Q 2023).

earnings-and-revenue-growth
earnings-and-revenue-growth

All figures shown in the chart above are for the trailing 12 month (TTM) period

Cipher Mining Earnings Insights

Looking ahead, revenue is forecast to grow 34% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Software industry in the US.

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Performance of the American Software industry.

The company's shares are up 2.7% from a week ago.

Risk Analysis

Be aware that Cipher Mining is showing 3 warning signs in our investment analysis and 2 of those don't sit too well with us...

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.