Butterfly Network Stock Jumps After Q2 Beat Fueled by Midjourney Partnership

Butterfly Network Inc. (NYSE: BFLY ) shares are trading higher Thursday after the company reported second- quarter financial results. Butterfly Network shares are powering higher. Why are BFLY shares rallying? Butterfly Tops Estimates With 39% Revenue Growth Butterfly reported an adjusted loss of 1 cent per share, beating the consensus estimate of a 6 cent-loss. In addition, it posted revenue of $32.51 million, beating the consensus estimate of $29.36 million and representing a 39% year-over-year increase. The increase in revenue was driven largely by the company’s Butterfly Embedded partnerships, including its co-development partnership with Midjourney. The company ended the quarter with $124.7 million in cash and cash equivalents. “Butterfly delivered another outstanding quarter, exceeding the high end of our guidance while achieving record revenue, gross margin and adju...