Joby Aviation Inc (NYSE:JOBY) is trading higher Friday morning after the company reported better-than-expected earnings results.
Joby reported fourth-quarter earnings of 1 cent per share, which beat the estimate for a loss of 15 cents per share.
Joby said it entered the “implementation phase” of its aircraft type certification program, as the company's first manufacturing conformity testing got underway. Joby also completed its first Systems and Compliance Reviews with the Federal Aviation Administration during the quarter.
The company said it finished building its new manufacturing facility in early 2022 and began manufacturing its first production aircraft.
Joby is a transportation company developing an all-electric vertical take-off and landing aircraft.
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JOBY 52-Week Range: $3.61 - $14.33
The stock was up 3.56% at $5.52 at press time.
Photo: courtesy of Joby.
