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Why Maxar Stock Tanked Today

TheMotleyFool

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Shares of Maxar Technologies (NYSE: MAXR) have tanked today, down by 25% as of 1:30 p.m. EST, after the company reported third-quarter earnings with top-line results that missed the market's expectations.

Revenue in the third quarter was $436 million, versus the consensus estimate of $453.7 million. That resulted in earnings per share of $1.32. The space technology company experienced weakness in its Earth Intelligence segment, which saw revenue decline by 3%. That business provides satellite imagery and analytics to customers. The Space Infrastructure segment grew by 12%.

Image source: Getty Images.

Source Fool.com

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