Why Ceragon Networks Stock Dropped Today
Shares of Ceragon Networks (NASDAQ: CRNT) dropped as much as 18% today after the company reported fourth-quarter earnings. The results were mixed compared to analyst expectations. As of 11:05 a.m. EST, the stock had partially recovered and was down 9%.
Revenue in the fourth quarter came in at $74 million, ahead of the consensus estimate of $72.1 million. That translated into an adjusted net loss of $3.5 million, or $0.04 per share. Wall Street was expecting Ceragon to break even. The company said that it increased its number of 5G technology design wins from five to nine during the quarter.
Image source: Getty Images.
Source Fool.com
