Microvast Holdings, Inc. Reports Q1 Loss, Tops Revenue Estimates
Microvast Holdings, Inc. (NASDAQ: MVST) came out with a quarterly loss of $0.04 per share versus the Zacks Consensus Estimate of a loss of $0.05. This compares to loss of $0.04 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 20%. A quarter ago, it was expected that this company would post a loss of $0.03 per share when it actually produced a loss of $0.04, delivering a surprise of -33.33%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Microvast, which belongs to the Zacks Technology Services industry, posted revenues of $81.35 million for the quarter ended March 2024, surpassing the Zacks Consensus Estimate by 20.29%. This compares to year-ago revenues of $46.97 million. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on …
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