Why Bigbear.ai Stock Is Sinking Today
BigBear.ai (NYSE: BBAI) stock is losing ground in Wednesday's trading. The company's share price was down 8.5% as of 1 p.m. ET. Meanwhile, the S&P 500 (SNPINDEX: ^GSPC) index was up 2.2%
After the market closed yesterday, BigBear.ai published its third-quarter results. While the company's earnings came in better than anticipated, sales fell short of expectations -- and management's forward guidance did not put investors at ease.
In the third quarter, Bigbear.ai posted a loss of $0.05 per share on revenue of $41.5 million. For comparison, the average analyst estimate had called for a loss of $0.07 per share on revenue of roughly $45 million. Revenue was up 22% year over year in the quarter, but the performance still fell short of expectations. Making matters worse, comments from management suggested that next year could be challenging for the business.
Source Fool.com
