Why Applied Optoelectronics Stock Tanked Today
Shares of Applied Optoelectronics (NASDAQ: AAOI) tanked today, down by 13% as of 11:30 a.m. EST, after the company reported fourth-quarter earnings. The results were mostly in line with expectations, but guidance for the first quarter was lacking.
Revenue in the fourth quarter was $52.3 million, right on target with the consensus estimate. That resulted in an adjusted net loss of $4.8 million, or $0.20 per share, which was slightly better than the $0.23 per share in adjusted losses that analysts were modeling for. The fiber-optics technology company reported a gross margin of 21.6%.
Image source: Getty Images.
Source Fool.com
