Why Adtran Stock Withered on Wednesday
Its preliminary second-quarter results provided cause for concern.
Overview
Not many investors were calling on Adtran (NASDAQ: ADTN) stock on Hump Day. Shares of the telecom equipment provider lost nearly 14% of their value that trading session, after the company published preliminary quarterly earnings that Mr. Market found wanting.
Investors were disappointed mainly because Adtran cut its revenue forecast for its second quarter. It now expects $280 million to $282 million for the period, down from the previous estimate of $283 million to $303 million.
Image source: Getty Images.
Details
Source
Originally published at www.fool.com.
Related Articles
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.