DDD - Why 3d Systems Stock Plummeted Today
2024-02-28 17:24:00 ET
3d Systems (NYSE: DDD) stock sank in Wednesday's trading. The company's share price closed out the daily session down 23.1%, according to data from S&P Global Market Intelligence .
3d Systems published its fourth-quarter results after the market closed yesterday, and the company posted sales and earnings results for the period that fell short of the market's expectations. In addition to underwhelming Q4 performance, the 3D printing specialist also issued forward guidance that fell short of Wall Street's expectations.
In Q4, 3d Systems posted a net loss of $2.30 per share on revenue of $114.85 million. The company's sales for the period were down 13.5% year over year. Meanwhile, its per-share loss expanded dramatically from the loss per share of $0.20 that it posted in the prior-year quarter.
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Why 3d Systems Stock Plummeted Today