Microvast Q4 Earnings: Revenue Beat, EPS Beat, Gross Margin Improvement And More
Portfolio Pulse from Adam Eckert
Microvast Holdings Inc (NASDAQ:MVST) reported Q4 financial results with a 61.4% year-over-year revenue increase to $104.58 million, surpassing estimates. The company also beat EPS estimates with an adjusted loss of 4 cents per share. Gross margin improved significantly to 22%. The company provided a positive outlook for Q1 with expected revenue growth of 40% to 60% and a gross margin target of 20% to 25%. Despite these positive results, MVST shares dropped 11.17% after hours.
April 01, 2024 | 9:29 pm
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NEGATIVE IMPACT
Microvast reported strong Q4 earnings with revenue and EPS beats, and significant gross margin improvement. Despite positive future outlook, shares dropped 11.17% after hours.
The negative after-hours price action despite positive earnings results and outlook suggests a short-term bearish sentiment among investors. This could be due to profit-taking, adjusted expectations, or other market factors not directly related to the earnings report.
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