. In its second-quarter earnings report, the company said, "With weaker Versa Lite sales, we are lowering the midpoint of our 2019 revenue guidance by $95 million to $1.455 billion from $1.550 billion and now expect full year 2019 revenue to be $1.43 billion to $1.48 billion."
The stock later rebounded slightly but was still down more than 15%. Fitbit reported an adjusted loss per share of 14 cents on revenue of $314 million for the second quarter. Analysts polled by Refinitiv had been expecting a loss per share of 18 cents on revenue of $312 million.
. The company reported adjusted earnings per share of 80 cents on revenue of $4.89 billion. Analysts had expected earnings per share of 75 cents on revenue of $5.08 billion, according to Refinitiv. Qualcomm said adjusted earnings per share for the fiscal quarter ending in September would be between 65 cents and 75 cents and revenue would fall between $4.3 billion and $5.1 billion. Analysts had projected expected earnings per share of $1.08 on revenue of $5.63 billion for that quarter.fell 3% despite beating analysts' estimates for its second-quarter revenue. The cloud company reported adjusted earnings per share of 3 cents on revenue of $275 million.
Western Digital CEO Milligan said the company ended a challenging fiscal 2019 "with leadership positions in capacity enterprise hard drives, 3D flash technology and branded retail products while achieving significant gains in client solid state drives."
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