Why Exela Technologies Stock Tanked 10.4% on Friday
Shares of Exela Technologies (NASDAQ: XELA) tanked 10% on Friday after reporting disappointing third-quarter earnings. The business process automation (BPA) company missed badly on revenue, likely worrying investors about its prospects.
On Friday, Exela Technologies released its report for the third quarter, which covers the period ending in September. Earnings per share (EPS) beat analyst estimates, coming in at a loss of $0.09, but revenue missed badly in the quarter. Sales were $279.2 million in the third quarter, down 8.5% year over year, missing the consensus estimate by $36.5 million.
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Source Fool.com
