Why Axon Enterprise Shares Plunged 18% Today
Shares of body camera and Taser company Axon Enterprise (NASDAQ: AAXN) fell as much as 18% in trading Friday after the company reported second-quarter 2019 results. At 3 p.m. EDT, shares were still down 12.4% on the day.
Revenue for the quarter was up 13.2% to $112.4 million, and net income fell from $8.5 million a year ago to $738,000, or $0.01 per share. The problem is, analysts were expecting $115 million of revenue and earnings of $0.16 per share, so you can see why the initial reaction was disappointment.
Image source: Axon.
Source Fool.com
