Plug Power Reports Poor Q1 Results, Shares Down 10%
May 10 2022 - 04:33AM
TipRanks
The Q1 earnings results of Plug Power (PLUG) fell short of the
consensus estimates and its stock fell almost 10% during extended
trading on May 9, shortly after the results came out. The stock had
dropped more than 14% in the regular trading session. Headquartered
in New York, Plug Power develops hydrogen fuel cell systems that
power a variety of machines, including forklifts. Its customers
include major retailers such as Amazon (AMZN), Walmart (WMT), and
Carrefour. Q1 Earnings Numbers Revenue of $140.8 million
nearly doubled from $71.96 million in the same quarter the previous
year, but fell short of the consensus estimate of $144.49
million.
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Plug Power (NASDAQ:PLUG)
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