Plug Power Remains in the Red: Losses Continue

5/9/2024, 6:00 PM

Tension at Plug Power: Investors eagerly anticipated the important news on Thursday.

Eulerpool News May 9, 2024, 6:00 PM

The hydrogen company Plug Power announced disappointing results for the first quarter of 2024 on Thursday.

The company reported a loss per share of $0.46, which represents a deterioration compared to the previous year's loss of $0.35 per share. Analysts had only expected a loss of $0.331 per share.

Plug Power's Revenue Fell from $210.3 Million to $120.3 Million Compared to the Same Quarter Last Year. These Figures Fell Far Short of Market Experts' Expectations, Who Had Forecast Revenue of $156.7 Million.

These negative news had an immediate impact on the stock price, which in NASDAQ trading on Thursday fell by 1.19 percent to 2.49 US dollars.

The current figures could be a disappointment for investors who had hoped for an improvement in the business situation, and may signal ongoing challenges in the operational business of the hydrogen giant.

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