From 24/7 Wall St. · Trey Thoelcke · · 1m
IonQ, SoundHound and Unity Earnings Preview
Tech stocks face steep selloffs as earnings previews reveal record revenue and mounting risks.
In brief
Tech stocks face steep selloffs as earnings previews reveal record revenue and mounting risks. IonQ, SoundHound and Unity report earnings with record revenue but steep losses and cash burn concerns. Originally reported by 24/7 Wall St..
Earnings Preview
Three high-growth tech stocks report results on Thursday, Nov. 5.
Recent Selloffs
IonQ down 30.2% in a month and 35.9% this year; SoundHound down 29.9% in a month and 61.1% this year.
Record Revenue
IonQ revenue exceeded guidance for fifth consecutive quarter; SoundHound revenue reached 10 times Q2 2022 level.
Unity's Performance
Unity called Q3 'arguably the best quarter in history as a public company'.
Financial Metrics
IonQ: Q3 EPS estimate -$0.80, revenue $141.2M; SoundHound: Q3 EPS estimate -$0.05, revenue $62.2M; Unity: Q3 EPS estimate $0.345, revenue $567.4M.
Key Risks
IonQ faces cash burn and quantum computing challenges; SoundHound needs LivePerson deal timing; Unity must maintain Vector growth.
Here's the gist
IonQ, SoundHound and Unity report earnings with record revenue but steep losses and cash burn concerns.
