Wednesday, November 1, 2017

3D Systems’ Stock Tanked Today

What happened:
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”

No comments:

Post a Comment