TSLA - Luminar Technologies Stock Jumps On Earnings As Company Reveals Tesla Was Biggest Customer In Q1 | Benzinga
Luminar Technologies Inc (NASDAQ:LAZR) shares are trading higher Wednesday following the company’s first-quarter earnings results. Luminar also announced that Tesla Inc (NASDAQ:TSLA) was its biggest LiDAR customer in the first quarter.
What To Know: After the market close on Tuesday, Luminar reported first-quarter revenue of $20.97 million, which missed the consensus estimate of $21.14 million, per Benzinga Pro. The company’s top-line results were up 45% on a year-over-year basis, but down 5% sequentially.
Luminar reported a first-quarter adjusted earnings loss of 19 cents per share, which beat estimates for a loss of 20 cents per share.
Operating cash flow was negative $81.2 million in the first quarter and free cash flow was ...