How did ARDX's Q1 2024 EPS outperform forecasts?

Ardelyx Inc.'s (ARDX) Q1 2024 earnings report revealed an EPS loss of $0.12 per share, which was a significant decline from the previous year's EPS of $0.06 per share. This decline of 300% was largely unexpected, as the company's earnings had been estimated to fall by only 33%, resulting in an EPS loss of $0.09 per share. This indicates that the company's actual performance was much worse than anticipated, leading to a substantial earnings miss. |code|Ticker|Name|Date|Estimate EPS|EPS Surprise|market_code| |---|---|---|---|---|---|---| |ARDX|ARDX.O|Ardelyx|2024 Q1|-0.14|0.03|185| |ARDX|ARDX.O|Ardelyx|2024 Q2|-0.11|0.04|185| |ARDX|ARDX.O|Ardelyx|2024 Q3|-0.05|0.05|185| |ARDX|ARDX.O|Ardelyx|2024 Q4|0.01|0.01|185|