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Why Is HeartCore Enterprises (HTCR) Stock Up 58% Today?


  • HeartCore Enterprises (HTCR) stock is jumping with its first-quarter earnings release.
  • The company surprised investors with positive earnings per share.
  • It also beat out revenue estimates for the quarter.
HTCR Stock - Why Is HeartCore Enterprises (HTCR) Stock Up 58% Today?

Source: Shutterstock

HeartCore Enterprises (NASDAQ:HTCR) stock is on the rise after the software development company released its latest earnings report.

HeartCore Enterprises surprised investors with its positive EPS of 10 cents for the first quarter. That’s better than the -3 cents per share that Wall Street was expecting. It’s also an improvement over the -9 cents per share reported in the same period of the year prior.

Adding to that is the company’s revenue of $8.7 million for Q1. Yet again, that came in above analysts’ revenue estimate of $2.1 million for the quarter. It also represents a 284% increase year-over-year (YOY) from $2.3 million.

Sumitaka Yamamoto, CEO of HeartCore Enterprises, said the following about the company’s impressive earnings report:

“Our core software division drove robust operating results stemming from newly adopted marketing techniques and customer acquisition methods that were implemented last year; these changes led to profitability within this sector of our company.”

HTCR Stock Rallies on Earnings

Following the release of that earnings report, shares of HTCR stock are seeing incredibly heavy trading. As of this writing, more than 5 million shares have changed hands. For perspective, the daily average trading volume for HeartCore Enterprises is 449,000 shares.

HTCR stock is up 57.8% as of Tuesday morning.

Investors looking for more of the most recent stock market news will want to keep reading!

We’ve got all of the latest coverage traders need for Tuesday! That includes the biggest pre-market stock movers this morning, the latest concerning Li Auto (NASDAQ:LI) and more. All of this news is ready to go at the links below!

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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2023/05/why-is-heartcore-enterprises-htcr-stock-up-58-today/.

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