COMM - Why CommScope Stock Tanked Today
Shares of CommScope (NASDAQ: COMM) have tanked today, down by 10% as of 2:45 p.m. EST, after the company reported fourth-quarter earnings. The results were mixed relative to analyst expectations.
Revenue in Q4 declined 7% to $2.13 billion, which missed the consensus estimate of $2.18 billion in sales. That resulted in adjusted earnings per share of $0.59, topping the analyst forecast of $0.44 per share in adjusted profits. The telecommunications equipment company reported adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $362.2 million.
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Why CommScope Stock Tanked Today