Symbotic slumps on weak Q2 core earnings forecast
05/02/2024 22:57
** Shares of automation firm Symbotic SYM.O down 19.7% at
$39.84 in aftermarket trading
** SYM forecasts adj. EBITDA of $12 mln - $15 mln for Q2,
much below analysts' expectation of ~$28 mln - LSEG
** Also forecasts Q2 revenue of $400 mln - $420 mln compared
with analysts' estimates of $403.4 mln
** SYM stock rose more than 4 fold in 2023
(Reporting by Pritam Biswas in Bengaluru)
((Pritam.Biswas@thomsonreuters.com))