Despite reporting expectation-topping results, shares of Infinera (NASDAQ: INFN), a maker of optical-equipment, fell 23% as of 11:35 a.m. EST on Thursday. Investors can blame the plunge on a surprise restructuring plan and weak guidance.
Here's an overview of headline numbers from the company's third quarter:
This represents the company's fourth quarter in a row of showing a big net loss. In an effort to right the ship, management surprised investors by announcing a companywide restructuring plan.
Source: Fool.com