AeroVironment (AVAV) Revenue Doubles to $642M, Stock Jumps 15%
Published on Β· Source: cnbc.com
AI Summary
Summarized by AI from the source belowAeroVironment (AVAV) shares increased 15% after reporting fiscal Q4 revenue of $642 million, more than double the previous year's figure. The company's funded backlog rose 65% to $1.2 billion, with autonomous systems revenue totaling $492 million, surpassing expectations of $402 million. A record $75 billion budget for drones is proposed for 2027 amid rising defense spending. The company also reported $282.3 million in revenue from recent acquisitions, positioning itself favorably in the defense sector.
Informational only, not financial advice. Content is AI-generated and may contain errors. How this works.
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