Why BigBear.ai Stock Is Dropping After Earnings

BigBear.ai, Inc. (NYSE:BBAI) shares are dropping Friday after the company posted worse-than-expected fourth-quarter financial results Thursday after the bell.

The Details:

BigBear.ai reported quarterly losses of 14 cents per share, which missed the consensus estimate of losses of 5 cents per share.

Quarterly sales came in at $40.563 million, missing the analyst consensus estimate of $42.755 million and representing a 0.51% increase year-over-year.

“As we close out FY 2023, I am proud of the work that we have done as a company to solidify BigBear.ai’s (foundation). We entered the year in a different position than many other companies that are playing a role in the transformative potential of artificial intelligence,” said BigBear.ai CEO Mandy Long.

The company also announced its acquisition …

Full story available on Benzinga.com