AeroVironment stock rocketed 21.6% higher Wednesday as the drone maker beat fourth-quarter expectations on the top and bottom lines.
Here's how the company did compared to analysts' expectations:
Earnings : $1.61 per share adjusted vs. $1.39 per share expected
: $1.61 per share adjusted vs. $1.39 per share expected Revenue: $275 million vs. $242 million expected
The company reported financial results after market close Tuesday but shares skyrocketed Wednesday morning as CNBC's Jim Cramer called it "the Palantir of hardware" on "Squawk on the Street."
The company logged record fiscal-year revenue of $820.6 million, up 14% over the prior period.
AeroVironment reported net income of $16.66 million for the fourth quarter, or 59 cents per share, compared to net income of $6.05 million, or 22 cents per share, last year.