Why BlackSky Stock Orbited 5% Higher Today
Shares of Earth imaging satellite operator BlackSky Technology (NYSE: BKSY) popped 4.7% through 11 a.m. ET on Wednesday, despite missing analyst sales forecasts earlier in the morning.
Heading into the first quarter of 2023, Wall Street had forecast a $0.14-per-share loss for the space stock, on $20.4 million in quarterly sales. BlackSky met the Street's earnings target, but sales fell a bit short at $18.4 million.
So why are investors impressed by these results? Well consider, firstly, that although BlackSky "missed" the Street's sales target, it still grew sales by an impressive 32% (and revenue from high-margin imagery and analytics services surged 114%). Also worth noting is the fact that, while BlackSky lost money in Q1 2023, it lost less money than in Q1 2022, when losses were $0.17 per share.
Source Fool.com
