Stock Track | Rigetti Computing Plunges 5.80% After-Hours on Q4 Revenue Miss

Stock Track03-05

Rigetti Computing's stock experienced a significant 5.80% plunge in post-market trading on Wednesday, following the release of the company's fourth-quarter financial results.

The quantum computing company reported quarterly revenue of $1.9 million, which fell short of the analyst consensus estimate of $2.34 million. While Rigetti's adjusted loss per share of $0.03 met expectations, the revenue miss appears to have disappointed investors, leading to the sharp decline.

The company's operating loss widened to $22.6 million for the quarter, compared to $18.5 million in the same period last year. Despite CEO Subodh Kulkarni highlighting continued demand for on-premises quantum systems and pointing to future revenue growth from existing orders, the immediate market reaction focused on the quarterly performance shortfall.

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