Tue Aug 23 2022 - 17:48
The shares dropped 15 per cent by midday in New York, the biggest single-day decline since November 23rd. The stock plunged 47 per cent this year through Monday’s close, missing out on the rally in technology stocks since mid-June. Revenue will be about $1.1 billion in the period ending in October, the California-based company said in a statement. Analysts, on average, expected $1.16 billion, or growth of about 10 per cent from a year earlier, according to data compiled by Bloomberg. Profit, excluding some items, will be 82 cents to 83 cents a share, compared with analysts’ average estimate of 91 cents.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: