Why AeroVironment, Inc. Stock Skyrocketed Today

Shares of AeroVironment Inc. (NASDAQ: AVAV) were up 18.9% as of 1:30 p.m. EDT Wednesday after the unmanned aircraft systems specialist announced strong fiscal first-quarter 2018 results.

More specifically -- and noting the fiscal first quarter is its lightest in terms of sales and profits -- AeroVironment's quarterly revenue climbed 21% year over year to $43.8 million, or near the high end of its guidance for revenue of $40 million to $44 million. On the bottom line, that translated to a net loss of $4.4 million, or $0.19 per share, narrowed from a loss of $11.6 million, or $0.51 per share in the same year-ago period. Here again, that was significantly ahead of guidance for a per-share loss of $0.32 to $0.40.

Image source: AeroVironment.

Source: Fool.com