Why IPG Photonics Stock Dropped 15.1% in July
Shares of IPG Photonics (NASDAQ: IPGP) dropped 15.1% in July, according to data from S&P Global Market Intelligence, amid escalating trade tensions and after the fiber laser leader's second-quarter earnings fell short of expectations.
That's not to say it was all bad news; IPG's quarterly sales fell 12% year over year to $363.8 million, slightly above expectations for a more severe 15% drop. But that also translated to a more than 40% decline in net income to $72.3 million, or $1.34 per share, falling short of estimates for earnings closer to $1.38 per share.
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