RTTNews | Jun 29, 2021 04:59PM EDT

16:59 Tuesday, June 29, 2021 (RTTNews.com) - Shares of LMP Automotive Holdings, Inc. (LMPX) are gaining over 7% in extended session on Tuesday after the automotive retailer reported its first-quarter results, which the company said was the "strongest first quarter financial results" in its history.

Net loss for the first quarter was $1.67 million or $0.80 per share compared to last year's loss of $1.72 million or $0.18 per share last year. Adjusted earnings for the quarter were $0.13 per share, compared to a loss of $0.17 per share last year.

First-quarter revenue increased to $33.0 million from $5.3 million last year, driven largely by about three weeks of sales from acquisitions closed in March 2021.

Looking forward to the second quarter, the company expects revenues of $147.6 million.

LMPX closed Tuesday's trading at $17.67, up $1.16 or 7.03%, on the Nasdaq. The stock further gained $1.33 or 7.53% in the after-hours trade.

Read the original article on RTTNews ( https://www.rttnews.com/3205821/lmp-automotive-holdings-gains-7-in-after-hours-on-q1-results.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved