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Why Smith Micro Software Stock Plunged Today

TheMotleyFool

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Why Smith Micro Software Stock Plunged TodayPhoto, wide shot, wide-angle lens, Computer hardware manufacturer, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Edward Burtynsky: https://img.theapi.app/temp/32e7a10f-efd0-424a-861f-2f3e0bb7ce02.png

Shares of Smith Micro Software (NASDAQ: SMSI) were tumbling today after the company reported worse-than-expected fourth-quarter results. The company missed analysts' consensus estimates for both revenue and earnings in the quarter.

The tech stock was down by 15.3% at the end of the trading day.

Smith Micro reported a non-GAAP net loss per share of $0.04 in the fourth quarter, which was worse than the $0.03 loss per share that Wall Street was expecting. Additionally, the company's sales of $14.7 million -- an increase of 18.5% from the year-ago quarter -- were below analysts' consensus estimate of $15.2 million for the quarter.

Source Fool.com

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