HIVE Digital Technologies Ltd (NASDAQ:HIVE) experienced a pre-market plunge of 5.46% on Tuesday, following the release of its quarterly financial results.
The company reported fourth-quarter earnings that exceeded analyst expectations but fell short on revenue. While HIVE posted earnings of $0.02 per share, beating the consensus estimate of a $0.22 loss, its quarterly sales of $71.816 million missed the $78.917 million estimate by approximately 9%. This revenue shortfall appears to be the primary driver behind the stock's pre-market decline.
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