Serve Robotics Stock Falls After Q2 Report, Guidance Slashed

Serve Robotics Inc. (NASDAQ: SERV ) posted its second-quarter results after Thursday’s closing bell, missing revenue estimates and slashing its forward guidance. Here’s a look at the details inside the report. SERV stock is moving. Watch the price action here. Serve Robotics Q2 Details Serve Robotics reported quarterly losses of 59 cents per share, which beat the consensus estimate for losses of 68 cents, according to Pro data. Quarterly revenue came in at $3.28 million, which missed the Street estimate of $3.49 million. “Serve is driving innovation in last-mile delivery as our scaled robot fleet is powering deliveries across multiple verticals,” said Ali Kashani, Serve’s CEO. “Our leadership in autonomy and commercial deployment has created advantages that compound with scale, enabling unique partnerships, more diversified revenue streams, and new monetization...