Ouster Inc (OUST) said after close Thursday that it lost $0.89 per share in quarter three 2023.
On the revenue line, the company reported $22.2 million, beating estimates by $1 million.
In the same quarter a year ago, the company lost $2 per share on revenue of $11.2 million.
The stock is up 15.92% to $4.77 after the report.
The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.
Wall Street Analysts had an average rating of Buy on the stock prior to the report.
Trading in the five days leading up to the report earned Ouster Inc a Bearish Sentiment Rank from InvestorsObserver.
Prior to the report, InvestorsObserver gave the stock an overall score of 41. Meanwhile, the average Wall Street analyst rated the stock a Buy.
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Ouster Inc Up 15.92% To $4.77 After Earnings Beat
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