Q: Thoughts please on the quarter please
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5i Research Answer:
EPS of $1.28 missed estimates of $1.40; revenue of $10.28B missed estimates of $10.36B. EBITDA of $1B beat estimates by 3.3%. Guidance was reduced, but still came above the midpoint of estimates, so investors were relieved. The company also resumed its share buyback, which was another positive aspect of the release. It was still a challenging quarter, with earnings still constrained, but the 'revisions' seem to be nearing a bottom. Analysts today highlighted the compelling valuation. All-in, not a great quarter, but the bottom does at least seem to be forming here.