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Why MobileIron Stock Tanked Today

TheMotleyFool

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Why MobileIron Stock Tanked TodayPhoto, wide shot, wide-angle lens, Computer hardware manufacturer, Midday, harsh overhead sunlight, directional sunlightt, photo by Art Wolfe: https://img.theapi.app/temp/bee95973-d201-429b-849e-52867059bd1a.png

Shares of MobileIron (NASDAQ: MOBL) have tanked today, down by 25% as of 11:35 a.m. EDT, after the company reported third-quarter earnings results. The mobile cybersecurity specialist missed Wall Street's profit forecasts and offered cautious commentary while guiding the next quarter below expectations.

Revenue in the third quarter rose 6% to $52.2 million, with annual recurring revenue (ARR) increasing 14% to $174.3 million. MobileIron broke even on the bottom line on an adjusted basis, down from earnings of $0.02 per share a year ago. Analysts were expecting the company to post $0.01 per share in adjusted profits.

Image source: Getty Images.

Source Fool.com

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