Stock Groups

Joby Aviation Rallies on Earnings Beat -Breaking

by Mike Robinson

[ad_1]

© Reuters.

Sam Boughedda

Investing.com — Stocks Joby Aviation (NYSE:) Friday’s earnings beat was a boost for the venture-backed aerospace company. It climbed 12% on Friday.

California-based company, which develops all-electric airplanes for passenger services, posted earnings per share at 1 cent. Investing.com asked analysts to forecast a loss of 1 cent per share.

The company posted a 31-cent loss per share in the same quarter of last year. In the last quarter, research and development costs were $57.3million.

The company also announced that its second prototype for pre-production has been returned for flight testing.  

According to the company, it plans on focusing its efforts in 2022 on manufacturing and certification. 

According to the company, “We intend to expand our facilities in our pilot manufacturing facility to support the building of the first aircraft on this production line and to provide additional parts for certification or other operational requirements.” 

Joby anticipates that capital spending will be slightly higher than in 2021. In 2022, net cash will be used for operations and purchase of equipment and property. It is estimated that it will range between $340 million and $360 million.

 

Disclaimer: Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are not supplied by exchanges. They are instead provided by market makers. As such, the prices might not reflect market values and could be incorrect. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.

[ad_2]