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Why Sierra Wireless Stock Dropped Today

TheMotleyFool

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Shares of Sierra Wireless (NASDAQ: SWIR) were down 20.2% as of 2:50 p.m. EST Wednesday after the wireless communications equipment company announced disappointing third-quarter 2019 results.

More specifically, Sierra Wireless' quarterly revenue fell 14.5% year over year to $174 million, translating to adjusted net income of $0.03 per share. Though Sierra Wireless doesn't typically provide specific quarter guidance, both figures were well below consensus estimates for sales of $191 million and adjusted earnings of $0.11 per share.

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Source Fool.com

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