Forge Global Holdings, Inc. (FRGE) Reports Q3 Loss, Lags Revenue Estimates

Core Insights - Forge Global Holdings, Inc. reported a quarterly loss of $0.10 per share, which was worse than the Zacks Consensus Estimate of a loss of$0.09, but an improvement from a loss of $0.11 per share a year ago [1] - The company posted revenues of$19.22 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 15.72%, but showing an increase from $18.56 million in the same quarter last year [2] - The stock has underperformed significantly, losing about 65.3$0.07 on revenues of $25.52 million, and for the current fiscal year, it is -$0.34 on revenues of $89.63 million [7] Industry Context - The Financial - Miscellaneous Services industry, to which Forge Global belongs, is currently ranked in the top 29% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Forge Global's stock performance [5]