Shares of 3D Systems Corporation (NYSE:DDD)
dropped as much as 29.7% on Wednesday after reporting third-quarter earnings.
Sales fell and net loss grew, which is never good for a company, and management
even withdrew its guidance for the year. At 1:50 p.m. EDT, shares were still
down 24.1% on the day and showed no signs of picking up.
So what:
Revenue fell 2.2%, to $152.9 million in the quarter,
and net loss expanded from $21.4 million to $37.7 million, or $0.34 per share.
Adjusted for one-time items, the loss was $0.20, but even that was a shock
because analysts were expecting $0.12 in earnings per share on $162.9 million
in revenue.
Complete article on Motley Fool:
“Why 3D Systems Corporation's Shares Plunged a Whopping
30% Today”
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