Rakuten (OTCMKTS:RKUNY) Shares Gap Down After Earnings Miss

Shares of Rakuten, Inc. (OTCMKTS:RKUNY) gapped down before the market opened on Friday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $6.52, but opened at $5.81. Rakuten shares last traded at $5.8025, with a volume of 2,133 shares changing hands.

The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). The company had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.15 billion. Rakuten had a negative return on equity of 15.36% and a negative net margin of 7.13%.

Rakuten Stock Performance

The firm has a fifty day simple moving average of $6.20 and a 200-day simple moving average of $6.17. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 4.70. The company has a market cap of $12.65 billion, a PE ratio of -10.80 and a beta of 1.20.

About Rakuten

Rakuten, Inc is a diversified internet services company based in Tokyo, Japan, and founded in 1997 by Hiroshi Mikitani, who continues to serve as chairman and chief executive officer. Originally established as an online marketplace, Rakuten has expanded its reach to become a global technology group offering a wide range of digital services and consumer-facing platforms. The company is listed in Japan but its American depositary receipts trade over the counter under the symbol RKUNY.

At the core of Rakuten’s business is its e-commerce marketplace, Rakuten Ichiba, which hosts millions of merchants and serves tens of millions of customers across Japan and other key markets.