AeroVironment skyrockets 21% as dronemaker capitalizes on defense spending surge
Tehnologie
AeroVironment shares skyrocketed 21% after the dronemaker easily blew past Wall Street's fiscal fourth-quarter estimates, benefiting from U.S. plans to modernize the military and secure space. The Virginia-based defense company more than doubled revenue from a year ago to $642 million, while funded backlog jumped 65% to $1.2 billion. Revenue for autonomous systems totaled $492 million, surpassing the $402 million StreetAccount expectations. CEO Wahid Nawabi told analysts in a Monday earnings
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