Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
- Trimble Inc (NASDAQ:TRMB) reported a fourth-quarter FY22 revenue decline of 8% to $856.5 million, missing the consensus of $877.2 million. Revenue was flat on an organic basis.
- Annualized recurring revenue was $1.60 billion, up 16% Y/Y on an organic basis.
- Product revenue declined 17.8% Y/Y to $462 million. Service revenue fell by 0.7% Y/Y to $163.9 million.
- Subscription revenue rose 15.9% Y/Y to $230.6 million.
- Non-GAAP gross margin expanded by 400 bps to 61.8%. Non-GAAP EPS of $0.60 missed the consensus of $0.61.
- Trimble held $271 million in cash and equivalents.
- CEO Rob Painter said, "Record revenue, annualized recurring revenue, and gross margins in 2022 demonstrate progression of our Connect and Scale strategy. We enter 2023 with resolve to continue executing our strategy while navigating macroeconomic uncertainties."
- FY23 Outlook: Trimble expects revenue of $3.70 billion - $3.80 billion, below the consensus of $3.87 billion.
- Trimble forecasts non-GAAP EPS of $2.66 - $2.86 against the Street view of $2.93.
- Price Action: TRMB shares traded lower by 4.72% at $56.81 on the last check Wednesday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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