Rakuten (OTCMKTS:RKUNY) Shares Gap Down Following Weak Earnings

Rakuten, Inc. (OTCMKTS:RKUNY)’s stock price gapped down before the market opened on Friday following a dissappointing earnings announcement. 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 traded.

The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). The firm had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.15 billion. Rakuten had a negative return on equity of 13.96% and a negative net margin of 6.67%.

Rakuten Price Performance

The firm’s 50 day simple moving average is $6.21 and its two-hundred day simple moving average is $6.16. The company has a debt-to-equity ratio of 4.70, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a market capitalization of $12.60 billion, a P/E ratio of -11.61 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.