Joby Reports a Profit From No Sales. Investors Care More About Production.

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Updated March 25, 2022 9:55 am ET / Original March 25, 2022 9:28 am ET

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Electric air taxi maker Joby Aviation managed to produce a profit in the fourth quarter even though it doesn’t have any sales just yet. Shares were rising sharply Friday, but the jump has nothing to do with the earnings surprise.

Joby (ticker: JOBY) stock was up 18.6% on Friday to $6.32. The S&P 500 and Dow Jones Industrial Average were both rose about 0.3%.


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