Microvast Stock Surges On Q2 Earnings Beat, 541% Backlog Growth, Strong Guidance
Portfolio Pulse from Adam Eckert
Microvast Holdings Inc (NASDAQ:MVST) reported better-than-expected Q2 financial results, with a revenue of $74.95 million, beating estimates of $64.19 million, and a loss of 2 cents per share, better than the estimated loss of 9 cents. The company's revenue increased by 16.4% YoY, and its backlog grew by 541.9% YoY to $675.9 million. The company expects Q3 revenue to be between $72 million and $80 million, and full-year revenue to be between $348 million and $368 million.
August 07, 2023 | 9:01 pm
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Microvast's better-than-expected Q2 results and strong guidance for Q3 and full-year revenue may positively impact its stock price.
Microvast's Q2 results exceeded estimates, and the company provided strong guidance for Q3 and full-year revenue. This positive financial performance and outlook may increase investor confidence and demand for the stock, potentially driving its price up.
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