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Why Lantronix Stock Is Plummeting Today

TheMotleyFool

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Why Lantronix Stock Is Plummeting TodayPhoto, wide shot, wide-angle lens, Semiconductor company, sunset photo at golden hour, photo by Art Wolfe: https://img.midjourneyapi.xyz/temp/92ce44e9-64c7-4458-9a95-b706ed510490.png

Shares of Lantronix (NASDAQ: LTRX), a software-as-a-service (SaaS) company, were sliding today after the company reported worse-than-expected fiscal fourth-quarter earnings for the period ended June 30 and issued earnings guidance that was lower than Wall Street's consensus estimate.

The SaaS stock was down by 19.2% as of 11:29 a.m. ET.

Lantronix's sales spiked 79% from the year-ago quarter, to $35.9 million. That sales growth was enough to beat analysts' consensus estimate of $34 million in sales for the quarter.

Source Fool.com

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