Symbotic, Inc. (NASDAQ:SYM) shares rallied in Wednesday's extended trading after the company released its first-quarter earnings report.
Here's a look at the key figures from the quarter.
The Details: Symbotic reported quarterly earnings of two cents per share, which missed the consensus estimate of three cents.
Quarterly revenue of $629.99 million beat the Street estimate of $623.11 million.
Symbotic stock came into earnings with over 30% of shares sold short, according to data from Benzinga Pro.
“We are off to a strong start this fiscal year,” said Rick Cohen, Symbotic CEO.
“Our operational execution and product innovation are yielding tangible economic benefits for both our customers and us,” Cohen added.
Outlook: Symbotic expects second quarter revenue of $650 million to $670 million, versus the $639.24 million analyst estimate.
SYM Stock Price: According to data from Benzinga Pro, Symbotic stock rose 13.12% to $60.50 in Wednesday's extended trading.
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