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Why Infinera Stock Flopped Today

TheMotleyFool

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Shares of optical networking equipment maker Infinera (NASDAQ: INFN) tumbled 13.7% through 11:40 a.m. ET on Thursday after the company reported preliminary financial results for fiscal Q4 2023 this morning.

Wall Street analysts had been expecting Infinera to report about $437 million in sales for the period ended Dec. 30, 2023, and profits of $0.09 per share, adjusted for one-time items. Infinera didn't 100% guarantee that it will miss those numbers, giving instead what amounts to a preview of results that imply it might either hit or miss the targets.

Q4 sales will range from $435 million to $452 million, while earnings could be as little as $0.07 per share or as much as $0.13 per share.

Source Fool.com