DGII - Why Digi International Stock Jumped 16.2% Today
2024-02-01 15:23:39 ET
Shares of Internet of Things service provider Digi International (NASDAQ: DGII) jumped as much as 16.2% in trading on Thursday after the company reported fiscal first-quarter 2024 financial results. Shares were volatile in trading but were still up 12.5% at 2:30 p.m. ET.
Volumes were under pressure across the board, which led to a drop on the top line. Revenue fell 3% to $106.1 million in the quarter, and net loss was $3 million, or $0.08 per share. Adjusted earnings per share were $0.48, flat from a year ago.
Analysts were only expecting revenue of $105.8 million and earnings per share of $0.45 in the quarter.
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Why Digi International Stock Jumped 16.2% Today