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Why NeoPhotonics Stock Tanked Today

TheMotleyFool

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Shares of NeoPhotonics (NYSE: NPTN) have tanked today, down by 14% as of 12:50 p.m. EDT, after the company reported second-quarter earnings. The results beat expectations but NeoPhotonics' profit guidance fell short.

Revenue in the second quarter was $103.2 million, ahead of the $99.2 million that analysts were looking for. That resulted in adjusted earnings per share of $0.16, also beating the consensus estimate of $0.12 per share in adjusted profits. The optical networking technology company posted adjusted EBITDA of $16.9 million.

Image source: Getty Images.

Source Fool.com

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