Tuesday, November 22, 2022 – Faraday Future Intelligent Electric Inc. (FFIE) reported downside earnings and in line revenues.
Faraday Future Intelligent Electric Inc. reported EPS loss of $0.30 per share. Profits rose 72% year-over-year after reporting an EPS loss of $1.06 per share in its year-ago quarter. The positive growth rate signals that the Consumer Cyclical company is performing well amid recent economic conditions.
Revenues were in line at $0.00. That revenue figure is unchanged from the year ago report from the year ago quarter.
The stock is down 8.85% to $0.31 after the report.
The firm’s higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.
Wall Street Analysts had an average rating of Hold on the stock prior to the report.
InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.
Prior to the report, InvestorsObserver gave the stock an overall score of 42. Meanwhile, the average Wall Street analyst rated the stock a Hold.
Faraday Future Intelligent Electric Inc is a global shared intelligent mobility ecosystem. It is poised to break the boundaries between the Internet, IT, creative, and auto industries with product and service offerings that integrate new energy, AI, Internet, and sharing models. FF 91 is its first production vehicle and flagship model.