Inseego to Report Q3 Earnings: What's in the Cards for the Stock?

Inseego INSG is set to report third-quarter 2024 results on Nov. 12.For the third quarter, INSG expects revenues of $54-$58 million.The Zacks Consensus Estimate for revenues is currently pegged at $56.30 million, suggesting an increase of 15.89% from the year-ago quarter’s reported figure.For the quarter under review, the consensus mark for earnings has remained steady at 9 cents per share, unchanged over the past 30 days. INSG reported a loss of $1.60 per share in the year-ago quarter.Inseego Price and EPS Surprise Inseego price-eps-surprise | Inseego QuoteInseego has a mixed earnings surprise history. Over the trailing four quarters, INSG’s earnings beat the Zacks Consensus Estimate twice and missed in the remaining two, the average negative surprise being 181.39%.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Let’s see how things have shaped up before this announcement.Key Factors to Consider for INSG’s Q3 EarningsInseego’s third-quarter 2024 performance is expected to have benefited from strong performance in the carrier mobile hotspot business on the product side, which saw a 37% year-over-year increase in the second quarter.The company expects strong visibility and confidence in its mobile broadband segment, driven by robust year-over-year growth in the to-be-reported quarter. INSG continues to gain momentum through its mobile broadband products, supported by a large carrier partner promotion.INSG offers a compelling portfolio of SaaS solutions in telematics and subscriber management. Subscribed SaaS offerings from contract renewals continue to be a key revenue growth driver for the reported quarter.What Our Model IndicatesPer the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.Inseego has an Earnings ESP of 0.00% and a Zacks Rank #3 at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.Stocks to ConsiderHere are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:Shopify SHOP has an Earnings ESP of +7.63% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.Shopify’s shares have gained 11.8% year to date. SHOP is set to report third-quarter 2024 results on Nov. 12.NVIDIA NVDA has an Earnings ESP of +2.30% and a Zacks Rank of #2 at present.NVIDIA shares have surged 198.1% year to date. NVIDIA is set to report third-quarter fiscal 2025 results on Nov. 20.Bilibili BILI has an Earnings ESP of +10.00% and a Zacks Rank #2.Bilibili shares have gained 85.7% year to date. BILI is set to report its third-quarter 2024 results on Nov. 14.Free Report: 5 Clean Energy Stocks with Massive UpsideEnergy is the backbone of our economy. It’s a multi-trillion dollar industry that has created some of the world’s largest and most profitable companies.Now state-of-the-art technology is paving the way for clean energy sources to overtake “old-fashioned” fossil fuels. Trillions of dollars are already pouring into clean energy initiatives, from solar power to hydrogen fuel cells.Emerging leaders from this space could be some of the most exciting stocks in your portfolio.Download Nuclear to Solar: 5 Stocks Powering the Future to see Zacks’ top picks free today.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report NVIDIA Corporation (NVDA): Free Stock Analysis Report Shopify Inc. (SHOP): Free Stock Analysis Report Inseego (INSG): Free Stock Analysis Report Bilibili Inc. Sponsored ADR (BILI): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks