Best: 1Q Earnings Snapshot
Best: 1Q Earnings Snapshot
HANGZHOU, China (AP) _ Best Inc. (BEST) on Tuesday reported a loss of $34.4 million in its first quarter.
On a per-share basis, the Hangzhou, China-based company said it had a loss of 9 cents. Losses, adjusted for non-recurring costs and amortization costs, were 8 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 10 cents per share.
The logistics company posted revenue of $1.02 billion in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $960.2 million.
Best expects full-year revenue in the range of $5.41 billion to $5.51 billion.
Best shares have risen 32% since the beginning of the year. The stock has fallen 52% in the last 12 months.
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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