EV maker Lucid (LCID) reported mixed first quarter results as a wider-than-expected loss trumped the company's confirmation that its Gravity SUV is still on track for a 2024 debut.
For the quarter, Lucid reported revenue of $172.7 million, topping expectations of $150.1 million and nearly 16% higher than a year ago. Lucid's loss per share, however, came in at $0.30, higher than estimates of $0.25, with its adjusted EBITDA loss coming in at $598.4 million compared to the $505.1 million forecast by analysts per Bloomberg.
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