Luminar Stock Climbs After Q3 Earnings
By Sam Boughedda
Investing.com — Luminar Technologies (NASDAQ:LAZR) shares rose 2.3% after announcing third quarter results that largely met expectations.
The company announced a loss per share of 10 cents on revenue of $8 million. Analysts polled by Investing.com anticipated a loss of 10 cents a share on revenue of $8.9 million.
Luminar maintained its full-year 2021 revenue guidance of $30 to $33 million.
“This quarter was one to remember with the debut of our Proactive Safety software, new top vehicle integration partnerships, two trucking wins, closing the acquisition of a key supplier, world-class leadership additions, and the culmination of our platform win with NVIDIA,” said Austin Russell, Luminar founder and CEO.
“At the same time, we’ve been meeting or beating all five of our company-level milestones we outlined towards the beginning of the year through relentless execution and commercial success.”
The company’s shares climbed to $20.46.
On Tuesday Luminar’s stock surged after being selected for Nvidia (NASDAQ:NVDA)’s autonomous vehicle platform.