© Reuters.
By Sam Boughedda
Investing.com — Shares of Joby Aviation (NYSE:), the venture-backed aerospace firm, popped 12% larger Friday after it reported earnings that beat expectations.
The California-based agency, which is creating all-electric plane for industrial passenger service, reported earnings per share of 1 cent. Analysts polled by Investing.com anticipated a loss per share of 15 cents.
In the identical quarter final yr, the corporate reported a lack of 31 cents a share. The corporate spent $57.3 million on analysis and improvement throughout the interval.
In the meantime, the corporate mentioned its second pre-production prototype has returned to flight testing.
In 2022, the corporate mentioned it’s specializing in certification and early manufacturing operations.
“We plan to broaden our amenities at our pilot manufacturing plant to assist constructing the primary plane on our manufacturing line in addition to extra components for certification and different operational necessities,” the corporate said.
Joby expects capital expenditure to be reasonably larger than 2021. Moreover, 2022 internet money utilized in working actions and purchases of property and gear is anticipated to vary from $340 million to $360 million.
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