COMM - Why CommScope Stock Fell 40% After Monday Earnings
2023-10-30 11:59:04 ET
Shares of communications equipment supplier CommScope (NASDAQ: COMM) disintegrated -- down 40.9% through 11:05 a.m. ET -- after the company delivered an earnings warning Monday morning.
Wall Street analysts had been predicting CommScope would deliver nearly $2 billion in sales in Q3, with a $0.30 per share profit. CommScope, however, just advised that it's going to miss that mark by about 20%, with sales coming in at only $1.6 billion -- and a huge net loss to boot.
What went wrong at CommScope this quarter? A better question would be whether anything went right.
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Why CommScope Stock Fell 40% After Monday Earnings