Surf Air Mobility Stock Gains On Q4 Earnings - Here's Why
Portfolio Pulse from Erica Kollmann
Surf Air Mobility Inc. (NYSE:SRFM) reported its Q4 earnings with non-GAAP losses of 28 cents per share and revenue of $26.8 million, slightly beating the revenue estimate. The company also reported a fiscal year 2023 loss of $6.35 per share. Significant achievements include a direct listing on the NYSE and a merger with Southern Airways. The company forecasts Q1 revenue to be between $28.5 million and $29.5 million, below the $32.3 million estimate. Shares rose 4.39% in after-hours trading.
March 28, 2024 | 8:15 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Surf Air Mobility reported Q4 earnings with revenue slightly above estimates and a fiscal year loss. The company completed a merger and forecasts lower Q1 revenue than expected.
The positive after-hours price movement suggests investor optimism following the earnings report and the company's achievements, including the merger and NYSE listing. However, the forecasted lower Q1 revenue could temper expectations.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100