Editor’s note: The story has been corrected to reflect a change in Serve Robotics, Inc’s quarterly losses.
Serve Robotics Inc. (NASDAQ:SERV) shares fell after the company released its third-quarter earnings report after Wednesday's closing bell.
Here's a look at the details in the report.
- SERV stock is moving. Watch the price action here.
The Details: Serve Robotics reported quarterly losses of 40 cents per share, which missed the analyst estimate for losses of 33 cents.
Quarterly revenue came in at $687,000, missing the Street estimate of $691,167.
Delivery volume grew 66% quarter-over-quarter and 300% from the third quarter of last year.
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“In Q3, our team once again delivered on our promises. Significantly, we’re on track to achieve our goal of deploying 2,000 robots before the end of the year,” said Dr. Ali Kashani, Serve’s CEO.
“We are now a national leader in sidewalk robotics, advancing towards a 10x increase in revenue next year. This positions Serve to establish the foundation for a future with a million robots deployed globally,” Dr. Kashani added.
SERV Stock Price: According to data from Benzinga Pro, Serve Robotics stock was down 5.44% at $9.90 in Wednesday's extended trading.
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Photo courtesy of Serve Robotics, Inc.
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