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.
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