Arbe Robotics rises after smaller-than-expected loss

Arbe Robotics

12/05/2022 18:40

** U.S.-listed shares of Israel-based ARBE Robotics  ARBE.O 
up ~4.5% at $6.29
    ** Co reports Q1 adjusted loss of 14 cents per share vs Wall
Street estimates of 18 cents per share - Refinitiv data
 urn:newsml:reuters.com:*:nPn4Kx12za
    ** ARBE launched a new RF chipset in the quarter geared
towards improving performance and safety in automotive vehicles
    ** Net loss decreased to $7.9 mln from $18.4 mln last year
    ** Co affirmed its outlook for FY22; expects revenue in the
range of $7 mln to $11 mln vs estimates of $9.4 mln - Refinitv 
    ** Including session gain, shares down ~32.4% YTD 

 (Reporting by Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com;))