Why Shares of Donnelley Financial Solutions Are Plunging
Shares of the financial software provider Donnelley Financial Solutions (NYSE: DFIN) traded almost 20% lower as of 11:11 a.m. ET today after the company reported earnings results for the fourth quarter of 2022 this morning that missed analyst estimates.
Donnelley reported diluted earnings per share of $0.36 on total revenue of close to $168 million, both numbers that missed earnings estimates.
"We are pleased with the continued progress we made in the quarter toward becoming a software-centric company," Donnelley's CEO Daniel Leib said in an earnings statement. "Software solutions net sales made up 41% of fourth-quarter 2022 total net sales, a record level of software sales mix and an increase of approximately 930 basis points from last year's fourth-quarter sales mix."
Source Fool.com
