D-Wave Quantum Inc. (QBTS) stock plummeted 6.04% during intraday trading on Thursday, as bearish sentiment intensified ahead of the company's upcoming quarterly earnings release.
The quantum computing company is scheduled to report its latest quarterly results on May 12 before market open. Market consensus points to significantly weak financial performance, with revenue expected to decline 61.00% year-over-year to $4.1346 million. Adjusted earnings per share are projected at -$0.07, representing a 118.30% deterioration from the prior year, while EBIT is estimated at -$27.8863 million, down 216.65% year-over-year.
Institutional sentiment has turned broadly negative ahead of the earnings release, with pre-earnings positioning dynamics amplifying volatility throughout the trading session as bulls and bears clashed aggressively.