Here's Why Planet Labs Shares Are Moving

Planet Labs PBC PL shares are trading higher by 10.33% to $6.78 Wednesday morning on continued strength after the company recently reported better-than-expected second-quarter results and raised guidance.

What Happened?

Planet Labs said second-quarter revenue increased 59% year-over-year to $48.45 million, which beat average analyst estimates of $42.36 million.

The company reported a quarterly net loss of 15 cents per share, which beat average analyst estimates for a loss of 16 cents per share...Read More

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According to data from Benzinga Pro, Planet Labs has a 52-week high of $12.15 and a 52-week low of $3.70.