AeroVironment (AVAV) advanced in extended trading on Tuesday after the aerospace and defense company reported a narrower-than-estimated loss as revenue surged in its fiscal Q1.
Shares rose as much as 8%.
Net loss per share shrank to $0.19 in the three months ended July 29, from a net loss per share of $0.51 in the year-ago period. Analysts had predicted a net loss per share of $0.34, according to Capital IQ data.
Fiscal Q1 revenue increased 21% to $43.8 million, topping the analyst consensus of $42.4 million.
For FY18, the company continues to expect to generate revenue of between $280 million and $300 million, and EPS of between $0.45 and $0.65. Analysts had predicted $293.3 million of revenue and $0.56 of EPS.