Best: 3Q Earnings Snapshot
HANGZHOU, China (AP) _ Best Inc. (BEST) on Wednesday reported a loss of $487,000 in its third quarter.
On a per-share basis, the Hangzhou, China-based company said it had a loss of less than 1 cent. Earnings, adjusted for non-recurring costs, came to 1 cent per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 1 cent per share.
The logistics company posted revenue of $1.22 billion in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $1.34 billion.
Best expects full-year revenue in the range of $4.98 billion to $5 billion.
Best shares have climbed 36% since the beginning of the year. The stock has decreased 7% in the last 12 months.