Symbotic Stock Rallies After Mixed Q1 Results: Details

Benzinga06:55

Symbotic, Inc. shares rallied 9.66% 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.

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