Movement Alert｜Rigetti Computing Falls 5.3% in After-Hours Trading, Q2 Revenue Slightly Misses Estimates

Market Focus08-07

On August 7, Rigetti Computing fell 5.3% in after-hours trading, trading at $15.72/share, with turnover of $15.3455 million.

On the news front, the company reported Q2 adjusted EPS of -$0.05, meeting consensus estimates and representing a 61.54% improvement from -$0.13 in the year-ago period. However, revenue came in at $5.1 million, narrowly missing the $5.15 million consensus estimate. Despite revenue growing approximately 175% year-over-year and losses narrowing significantly, the slight top-line shortfall triggered profit-taking among investors.

The stock had previously rallied on multiple positive catalysts, including a $5 million National Science Foundation grant and a partnership with Hewlett Packard Enterprise and Pittsburgh Supercomputing Center to build the TangleLab hybrid quantum-classical supercomputing testbed, with construction expected to begin in September. Benchmark had also highlighted Rigetti as a key name in the quantum computing space. With the earnings report failing to exceed expectations after this run-up, short-term selling pressure emerged.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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