By Ben Glickman
Canoo posted no sales in the first quarter, falling short of Wall Street's expectations for a sequential ramp-up in revenue.
The Justin, Texas-based electric-vehicle maker reported a loss of $110.7 million, or $2.20 a share, in the quarter ended March 31, compared with a loss of $90.7 million, or $4.99 a share, a year earlier.
Canoo recorded no revenue in the first quarter. Analysts polled by FactSet expected $1.1 million.
Canoo kept its guidance unchanged. The company previously said it expected $50 million to $100 million in revenue in 2024.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
May 14, 2024 16:24 ET (20:24 GMT)
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