The robotics warehouse automation company Symbotic soared over 50% after reporting better-than-expected results. 💪
The supply-chain robotics supplier lost $0.07 per share, more than double its $0.03 loss a year earlier. However, that was better than the $0.08 per share loss anticipated by analysts.
What really got the stock going was its revenues of $311.8 million, which smashed its own guidance and the $261 million consensus estimate. 🤩
The company expects $290 to $310 million in fourth-quarter revenue and adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) from $0 to $3 million.
The artificial intelligence (AI) and robotics bull market continues. Traders will be watching $SYM in the coming days as the market digests this quarter. 👀