Why Verra Mobility Stock Is Rising Today
Shares of Verra Mobility (NASDAQ: VRRM) are rising today, up 7.6% as of 11 a.m. EDT, after the smart-infrastructure provider reported first-quarter earnings that beat Wall Street's estimates.
Verra Mobility reported earnings after the market closed on Monday, and they were better than analysts had expected. First-quarter net income was $6.7 million, or $0.04 per share, up from $2.8 million, or $0.02 per share in Q1 2019. Revenue was $116.7 million, up 18.5% from a year ago.
Verra's earnings and revenue both beat Wall Street's consensus estimates, which had called for a net profit of $0.02 per share on revenue of $105.43 million.
Source Fool.com
