Why Pitney Bowes Stock Just Crashed 21.5%
Shares of small-cap postal delivery solutions provider Pitney Bowes (NYSE: PBI) tanked 21.5% in 1:20 p.m. EST trading this afternoon, despite a modest earnings beat reported this morning.
Heading into earnings, analysts had estimated that Pitney Bowes earned $0.10 per share, pro forma, on $939 million in revenue in the fourth quarter of 2020. As it turns out, Pitney Bowes earned $0.13 per share, and on sales of more than $1 billion.
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Source Fool.com
