Archer Aviation Stock Declines Following Wider-Than-Expected Fourth-Quarter Loss

Archer Aviation shares fell after the company reported a wider net loss for the fourth quarter. The electric air taxi developer posted a loss of $0.34 per share, which was greater than the $0.29 per share loss from the previous year and missed analyst expectations of a $0.27 loss. As a pre-revenue company, Archer reported no revenue, which was anticipated by the market. Despite the financial setback, the company highlighted its strong liquidity of approximately $625 million. It also reaffirmed its progress toward FAA certification for its Midnight aircraft and plans to launch air taxi services in the UAE by 2026.

Official Source: https://www.tipranks.com/news/achr-earnings-archer-aviation-stock-down-on-wider-q4-loss

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