Bit Digital stock falls 5% in pre-market after Q3 revenue miss

Bit Digital’s $27 million third-quarter revenue came in 16% below analyst consensus estimates, marking an over $5 million shortfall.

Shares in Nasdaq-listed Bit Digital fell 9.3% in premarket trading on Thursday after the Ethereum treasury and AI infrastructure company reported third-quarter revenue below analysts’ estimates.

Bit Digital reported $27.1 million in revenue, down 11% from $30.5 million a year earlier. Net income attributable to shareholders was $28.5 million, or 8 cents per diluted share, according to its Thursday SEC filing.

The company’s revenue came in nearly 16% below analyst consensus estimates of about $32.2 million, marking a $5.1 million shortfall, according to Yahoo Finance.

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