Fiscal Q3 revenue soared 58% year over year, beating Wall Street's 49% expectation. Loss per share was $0.02, which fell short of the analyst-consensus estimate of earnings per share of $0.03.
NEW YORK, NY / ACCESSWIRE / July 30, 2024 / Levi & Korsinsky notifies investors that it has commenced an investigation of Symbotic Inc. ("Symbotic") (NASDAQ:SYM) concerning possible violations of federal securities laws. On July 29 , 2024, Symbotic announced their 3Q24 financial results and then lowered its revenue guidance for the fourth quarter and full fiscal year 2024.
Shares of Symbotic (NASDAQ: SYM ) are taking a tumble after the artificial intelligence (AI) robotics company reported its earnings. As of this writing, SYM stock is down about 25%.
Symbotic beat sales expectations for fiscal Q3, but it posted an unexpected loss. Margins have not improved to the extent that investors had anticipated.
Start Time: 17:00 January 1, 0000 5:53 PM ET Symbotic Inc. (NASDAQ:SYM ) Q3 2024 Earnings Conference Call July 29, 2024, 17:00 PM ET Company Participants Rick Cohen - Founder, Chairman and CEO Carol Hibbard - CFO Jeff Evanson - VP, IR and Corporate Development Conference Call Participants Andy Kaplowitz - Citi Damian Karas - UBS Matt Summerville - D.A. Davidson Ross Sparenblek - William Blair Greg Palm - Craig-Hallum Jim Ricchiuti - Needham Nicole DeBlase - Deutsche Bank Mark Delaney - Goldman Sachs Rob Mason - Baird Ken Newman - KeyBanc Capital Markets Derek Soderberg - Cantor Fitzgerald Joe Giordano - TD Cowen Operator Good day and thank you for standing by.
Symbotic Inc. (SYM) came out with a quarterly loss of $0.02 per share versus the Zacks Consensus Estimate of $0.02. This compares to loss of $0.07 per share a year ago.
Shares of Symbotic slumped more than 13% in extended trading after the robotics vendor forecast current-quarter revenue and adjusted core profit below estimates, hurt by higher costs and slowing deployment of its automation systems.
Serve Robotics plans to expand its delivery fleet over the next few years. Nvidia has taken a 10% stake in the company -- an encouraging sign.
Symbiotic's (SYM) stronger segmental performance is likely to have boosted its top line in third-quarter fiscal 2024.
Symbotic Inc. (SYM) is an automation technology company that focuses on improving operating efficiencies in modern warehouses. Here are some key points about Symbotic: The company plans to announce its earnings on July 29, 2024.
Symbotic Inc. (SYM) closed at $39.19 in the latest trading session, marking a +1.82% move from the prior day.
Zacks.com users have recently been watching SYMBOTIC INC (SYM) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.