Planet Labs PBC Q3 Loss Decreases, Beats Estimates

(RTTNews) - Planet Labs PBC (PL) released Loss for third quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at -$20.08 million, or -$0.07 per share. This compares with -$38.00 million, or -$0.13 per share, in last year's third quarter.

Excluding items, Planet Labs PBC reported adjusted earnings of -$5.99 million or -$0.02 per share for the period.

Analysts on average had expected the company to earn -$0.04 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 10.6% to $61.27 million from $55.38 million last year.

Planet Labs PBC earnings at a glance (GAAP) :

-Earnings (Q3): -$20.08 Mln. vs. -$38.00 Mln. last year. -EPS (Q3): -$0.07 vs. -$0.13 last year. -Revenue (Q3): $61.27 Mln vs. $55.38 Mln last year.