Why SmileDirectClub Shares Are Crashing Today
SmileDirectClub (NASDAQ: SDC) didn't bring any smiles to the faces of investors with its third-quarter earnings update. Shares of the direct-to-consumer teledentistry company were crashing 18.5% as of 11:10 a.m. EST on Wednesday after it reported its Q3 results following the market close on Tuesday.
The company announced revenue in the third quarter of $180.2 million, up 50.6% year over year but well below the average analysts' estimate of $207.6 million. SmileDirectClub also posted a net loss in Q3 of $0.89 per share, badly missing the consensus Wall Street estimate of a net loss of $0.04.
Image source: Getty Images.
Source Fool.com
