AeroVironment Inc (NASDAQ: AVAV) shares are trading higher Wednesday after the company reported better-than-expected quarterly results and issued strong guidance. One analyst also upgraded the stock following the print.
Q1 Earnings: AeroVironment reported revenues of $152.3 million, up 40% year-over-year and ahead of the consensus estimate of $137.24 million, according to Benzinga Pro. The unmanned aircraft and robotics systems company reported quarterly earnings of $1 per share, which beat estimates of 40 cents per share.
AeroVironment said strong revenues were driven by higher shipments across all business segments. Net income also jumped 361% to $21.9 million. The ...