Microvast Q3 Earnings: EPS Beat, Revenue Up 107%, Backlog Growth And More

Microvast Holdings Inc (NASDAQ:MVST) shares are trading higher on the heels of the company’s third-quarter financial results. Here’s a rundown of the report.

Q3 Earnings: Microvast said third-quarter revenue increased 107.5% year-over-year to $80.1 million, which beat the consensus estimate of $76.244 million, according to Benzinga Pro. The lithium-ion battery company reported an adjusted loss of 3 cents per share versus estimates for a loss of 6 cents per share.