Bakkt (NYSE:BKKT) Releases Quarterly Earnings Results, Misses Estimates By $0.90 EPS

Bakkt (NYSE:BKKT) issued its quarterly earnings data on Wednesday. The company reported ($2.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.77) by ($0.90), Zacks reports. The company had revenue of $509.90 million during the quarter, compared to analyst estimates of $877.20 million. Bakkt had a negative net margin of 3.85% and a negative return on equity of 43.08%. During the same period last year, the firm earned ($4.75) EPS. Bakkt updated its FY 2024 guidance to EPS.

Bakkt Stock Up 0.7 %

Shares of BKKT stock opened at $13.73 on Friday. The stock has a market cap of $184.39 million, a PE ratio of -0.74 and a beta of 4.80. The business has a 50-day simple moving average of $17.53 and a 200-day simple moving average of $16.59. Bakkt has a 52-week low of $5.57 and a 52-week high of $68.75.

Bakkt Company Profile

Bakkt Holdings, Inc offers software as a service and application programming interface solutions for crypto and loyalty, powering engagement, and performance. The company operates Bakkt Marketplace, a platform that enables consumers to buy, sell, and store crypto in an embedded web experience; Bakkt Crypto, a platform that supports clients with a range of crypto solutions; and Bakkt Trust, institutional-grade qualified custody solution for market participants.