Stock Track | Hesai Group Soars 18.95% Pre-Market on Robust Q3 Revenue Growth and Earnings Beat

Stock Track

Nov 26, 2024

Hesai Group's stock surged 18.95% in pre-market trading on Tuesday, following the release of the company's strong third-quarter earnings report.

The Chinese lidar sensor maker reported a 21.1% year-over-year increase in revenue to RMB539.4 million for the quarter ended September 30, exceeding analyst expectations of RMB489.56 million. The company's non-GAAP earnings per share of -RMB$0.34 also beat estimates of a loss of RMB$0.40 per share.

Hesai Group's impressive quarterly performance, driven by robust demand for its lidar sensors in the automotive and robotics industries, has fueled investor optimism and propelled the stock's pre-market surge. The company's strong financial results and positive outlook have reinforced its position as a leading player in the rapidly growing autonomous driving and robotics sectors.

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