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Why Switch Shares Fell 13% Today

TheMotleyFool

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Shares of IT infrastructure specialist Switch (NYSE: SWCH) fell as much as 13.3% on Friday following the company's fourth-quarter earnings report.

Fourth-quarter sales rose 17% year over year to $121 million. Earnings fell from $0.05 to $0.04 per diluted share. The bottom-line figure was in line with Wall Street's estimates, and revenue came in slightly above your average analyst's projection of $119 million. Switch's revenue guidance of roughly $514 million for fiscal year 2020 also landed just above the current analyst view of $512 million.

Image source: Getty Images.

Source Fool.com

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