Why CalAmp Stock Was Sliding on Friday
Connectivity specialist CalAmp (NASDAQ: CAMP) felt a bit unplugged on Friday. The company's stock was down by nearly 3% in late-afternoon trading after it published its results for the second quarter of fiscal 2022.
After market hours on Thursday, CalAmp announced that it earned $79 million in revenue for the quarter, which was 6% higher than in the same period last year. The company's two business lines went in opposite directions: Software and subscription services' sales increased 24% to $41 million, but telematics declined 16% to make up the remainder.
Image source: Getty Images.
Source Fool.com
