3 Reasons Investors Should Ignore Cipher Digital's Double Miss
The double miss is irrelevant baed on where Cipher Digital is heading.
Overview
Cipher Digital (NASDAQ: CIFR) delivered an excellent earnings report if you ignore the double miss. The company reported second-quarter earnings per share of -$0.65, which missed the analyst estimate by $0.42. Revenue came in at $24.84 million, which was below the $32.52 million consensus estimate.
Those numbers are based on Cipher Digital's crypto mining business, which is winding down. Artificial intelligence is the future of Cipher Digital's revenue, and it has made multiple steps in that direction.
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Originally published at www.fool.com.
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