Shift Tech: Q1 Earnings Snapshot

May 10, 2022 GMT

SAN FRANCISCO (AP) _ Shift Technologies, Inc. (SFT) on Tuesday reported a loss of $57 million in its first quarter.

The San Francisco-based company said it had a loss of 70 cents per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 72 cents per share.

The company posted revenue of $219.6 million in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $210.2 million.

For the current quarter ending in July, Shift Tech said it expects revenue in the range of $225 million to $235 million.

The company expects full-year revenue in the range of $1 billion to $1.1 billion.


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