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Markets · Investing · Business
Finance
Why Innodata Stock Tumbled by 10% Last Month
It wasn't because of the quarterly earnings report it published that month.
Innodata's (NASDAQ: INOD) August was marked by an estimates-beating second quarter, but you wouldn't know that from how its stock performed that month. It fell by 10% due to other developments that investors didn't view as particularly positive.
Let's shine a light on the good news first. On Aug. 6, Innodata took the wraps off that quarter's figures, which were headed by revenue of $92.1 million for the period -- up nearly 58% year over year. That total set a new quarterly record for the company, as did other line items like gross profit not under generally accepted accounting principles (non-GAAP, or adjusted).
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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.
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