Best: 1Q Earnings Snapshot
Posted May 27, 2020 6:17 pm.
Last Updated May 27, 2020 6:24 pm.
This article is more than 5 years old.
HANGZHOU, China (AP) _ Best Inc. (BEST) on Wednesday reported a loss of $104.9 million in its first quarter.
On a per-share basis, the Hangzhou, China-based company said it had a loss of 27 cents. Losses, adjusted for stock option expense and costs related to mergers and acquisitions, were 26 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 21 cents per share.
The logistics company posted revenue of $771.9 million in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $901.6 million.
In the final minutes of trading on Wednesday, the company’s shares hit $4.86. A year ago, they were trading at $4.71.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BEST at https://www.zacks.com/ap/BEST
The Associated Press
