Stock Track | Joby Aviation Shares Plunge After Disappointing Q3 Results

Stock Track11-07

Joby Aviation, Inc. (NYSE: JOBY), a pioneering company in the electric air taxi industry, saw its stock price plummet by 5.33% in after-hours trading on Monday, November 6th. The sell-off came after the company reported disappointing financial results for the third quarter of 2024.

In its Q3 earnings report, Joby missed analysts' expectations on both revenue and earnings. The company reported a quarterly loss of $0.21 per share, missing the consensus estimate of $0.19 by a significant margin. Additionally, revenue for the quarter came in at $28,000, falling well short of the expected $43,000.

Despite the disappointing financial numbers, Joby highlighted several key milestones achieved during the quarter. The company successfully completed its first international demonstration flights in Japan, using one of its production prototype aircraft. It also reached a significant regulatory landmark by completing the first FAA-conforming major sub-assembly of an aircraft tail.

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(NYSE: JOBY), a pioneering company in the electric air taxi industry, saw its stock price plummet by 5.33% in after-hours trading on Monday, November 6th. 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