MicroVision Q1 Results Miss View; Stock Plunges

(RTTNews) - MicroVision Inc. (MVIS) reported that its first-quarter net loss was $6.23 million or $0.04 per share, compared to a net loss of $4.93 million, or $0.04 per share for the first quarter of 2020. Analysts polled by Thomson Reuters expected the company to report a loss of $0.02 per share for the quarter. Analysts' estimates typically exclude special items. MVIS closed Thursday's regular trading at $18.00 down $2.99 or 14.24%. In the after-hours trading, the stock further dropped $3.81 or 21.17%.

Revenue for the quarter dropped to $479 thousand, from $1.47 million last year. Analysts expected revenue of $600 thousand for the quarter.