Recap: Shift Technologies Q2 Earnings

Shares of Shift Technologies SFT rose in after-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share rose 92.92% over the past year to ($0.41), which beat the estimate of ($0.44).

Revenue of $154,850,000 up by 377.33% year over year, which beat the estimate of $125,600,000.

Outlook

Earnings guidance hasn't been issued by the company for now.

The upcoming fiscal year's revenue expected to be between $575,000,000 and $595,000,000.

How To Listen To The Conference Call

Date: Aug 10, 2021

Time: 05:00 PM

ET Webcast URL: https://edge.media-server.com/mmc/p/vkfnrk2t

Technicals

Company's 52-week high was at $12.34

Company's 52-week low was at $6.17

Price action over last quarter: Up 36.80%

Company Description

Shift Technologies Inc is an end-to-end auto e-commerce platform transforming the used car industry with a technology-driven, hassle-free customer experience. The company makes car purchase and ownership simple - making buying or selling a used car fun, fair, and accessible to everyone. It provides comprehensive, digital solutions throughout the car ownership lifecycle: finding the right car, having a test drive brought to you before buying the car, a seamless digitally-driven purchase transaction including financing and vehicle protection products, an efficient, digital trade-in/sale transaction, and a vision to provide high-value support services during car ownership. It operates in two segments: Retail and Wholesale, of which the majority of its revenue comes from Retail.