Planet Labs PBC Q2 Loss Decreases, beats estimates

(RTTNews) - Planet Labs PBC (PL) announced Loss for second quarter that decreased from the same period last year but missed the Street estimates.

The company's bottom line came in at -$38.0 million, or -$0.14 per share. This compares with -$39.5 million, or -$0.15 per share, in last year's second quarter.

Excluding items, Planet Labs PBC reported adjusted earnings of -$20.6 million or -$0.07 per share for the period.

Analysts on average had expected the company to earn -$0.08 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 10.9% to $53.8 million from $48.5 million last year.

Planet Labs PBC earnings at a glance (GAAP) :

-Earnings (Q2): -$38.0 Mln. vs. -$39.5 Mln. last year. -EPS (Q2): -$0.14 vs. -$0.15 last year. -Analyst Estimates: -$0.08 -Revenue (Q2): $53.8 Mln vs. $48.5 Mln last year.

-Guidance: Next quarter revenue guidance: $54-$56 mln Full year revenue guidance: $216-$223 mln