By Ben Glickman
Shares of Planet Labs declined on Thursday after the company cut its revenue guidance for the fiscal year.
The stock was down 6.2% to $2.89 in post-market trading, and lost 2.5% during the regular session. The shares have tumbled 29% this year.
The San Francisco-based satellite imagery provider now expects revenue of $216 million to $223 million, compared with a prior range of $225 million to $235 million.
The company reported fiscal second-quarter results with revenue up 11% to $53.8 million, missing the $54.1 million forecast by analysts polled by FactSet.
Planet Labs posted a loss of $38 million, or 14 cents a share, compared with $39.5 million, or 15 cents a share, a year earlier. Analysts polled by FactSet expected a per-share loss of 14 cents.
Write to Ben Glickman at [email protected]
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