RTTNews | Dec 1, 2021 10:55AM EST

10:55 Wednesday, December 1, 2021 (RTTNews.com) - Shares of footwear and apparel company Allbirds, Inc. (BIRD) are trading down 13 percent on Wednesday after the company posted wider-than-expected loss in the third quarter.

The company reported net loss of $13.8 million or $0.25 per share in the three-month period, more than net loss of $6.99 million or $0.13 per share in the same period last year.

On average, 10 analysts polled by Thomson Reuters had expected the company to post net loss of $0.12 per share in the quarter.

Quarterly revenues rose 33 percent to $62.7 million from $47.2 million a year ago, helped by robust consumer demand in the U.S.

Currently at $16.68, the stock has traded between $16.60 and $32.44 during the past 52 weeks.

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