How did DLPN's Q1 2024 earnings surprise the market?

Dolphin Entertainment Inc. (DLPN) reported its Q1 2024 earnings with an estimated EPS of -$0.12 and an estimated revenue of $9.5 million. Let's break down how these results compare to market expectations and the impact on the stock: 1. **Revenue Performance**: - The estimated revenue for Q1 2024 was $9.5 million. - In the previous quarter, Dolphin Entertainment's actual revenue for Q4 2023 was $12.00 million, which was 8.11% better than the analyst estimate of $11.10 million. - The consensus estimate for Q3 2024 revenue was $10.50 million. Given that the actual revenue was $9.5 million, this indicates a slight shortfall compared to market expectations. 2. **Earnings Performance**: - The estimated EPS for Q1 2024 was -$0.12. - In the previous quarter, the actual EPS was -$0.23 for Q4 2022, which was worse than the estimated -$0.18. - Analysts estimated an EPS of $0.00 for the latest quarter. The actual EPS of -$0.12 represents a significant negative surprise compared to expectations. 3. **Stock Reaction**: - The stock price fell by 8.32% to $0.87 following the earnings release. - Given the revenue shortfall and significant earnings miss, the stock's reaction is understandable, as investors may have concerns about the company's financial health and future growth prospects. In conclusion, Dolphin Entertainment's Q1 2024 earnings fell short of market expectations, resulting in a negative EPS and lower-than-estimated revenue. This led to a negative stock price movement, reflecting investor disappointment in the company's performance.