By Chris Wack
Blade Air Mobility shares were 20% higher, at $3.49, after the company reported a first-quarter loss that was narrower than analysts' expectations.
The air transportation and logistics company said it had a quarterly loss of $3.5 million, or four cents a share, compared with a loss of $4.2 million, or six cents a share, in the same quarter last year. Analysts polled by FactSet were looking for a loss of $8.9 million, or 11 cents a share.
Revenue for the quarter was $54.3 million, compared with last year's $51.5 million and the $49.4 million analysts were expecting.
The company said it saw strength in its passenger segment this quarter, and better results in Europe following a restructuring. Flight profit increased 18.1% to $12 million in the current quarter, versus $10.1 million last year, driven by strong growth in the passenger segment.
For 2025, the company is expecting revenue of $245 million to $265 million, while analysts are forecasting revenue of $256.3 million.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
May 12, 2025 10:16 ET (14:16 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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