Planet Labs PBC Q3 Loss decreases, beats estimates

(RTTNews) - Planet Labs PBC (PL) released Loss for third quarter that decreased from the same period last year and beat the Street estimates.

The company's earnings totaled -$40.2 million, or -$0.15 per share. This compares with -$41.5 million, or -$0.88 per share, in last year's third quarter.

Analysts on average had expected the company to earn -$0.17 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 56.8% to $49.7 million from $31.7 million last year.

Planet Labs PBC earnings at a glance (GAAP) :

-Earnings (Q3): -$40.2 Mln. vs. -$41.5 Mln. last year. -EPS (Q3): -$0.15 vs. -$0.88 last year. -Analyst Estimates: -$0.17 -Revenue (Q3): $49.7 Mln vs. $31.7 Mln last year.

-Guidance: Next quarter revenue guidance: $50-$54 mln Full year revenue guidance: $188-$192 mln