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Why Shockwave Medical Stock Dropped Today

TheMotleyFool

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Why Shockwave Medical Stock Dropped TodayPhoto, wide shot, wide-angle lens, Pharmaceutical company, Midday, harsh overhead sunlight, directional sunlightt, photo by Art Wolfe: https://img.midjourneyapi.xyz/temp/7ae4a134-dd01-4c80-a621-18399f5a2541.png

Shares of Shockwave Medical (NASDAQ: SWAV) were down 9.5% as of 11:35 a.m. ET Tuesday, according to data provided by S&P Global Market Intelligence, after the company announced mixed second-quarter 2023 results relative to Wall Street's expectations.

Shockwave Medical's quarterly revenue climbed 49% year over year to $180.2 million, translating to net income of $28.9 million, or $0.76 per diluted share. Analysts, on average, were modeling lower revenue of $173.8 million, but higher earnings of $0.79 per share.

As Shockwave CEO Doug Godshall state:

Source Fool.com

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