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Why Vuzix Stock Plunged Today

TheMotleyFool

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Shares of Vuzix (NASDAQ: VUZI) have plunged today, down by 10% as of 11 a.m. EDT, after the company reported first-quarter earnings. The results were mixed relative to analyst expectations, while the company continues to ramp shipments of its smart glasses.

Revenue in the first quarter was $3.9 million, slightly ahead of the consensus estimate of $3.83 million in sales. That resulted in a net loss of $6.6 million, or $0.12 per share, which was worse than the $0.10 per share in losses that Wall Street was looking for.

Image source: Vuzix.

Source Fool.com

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