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Shares of NeoPhotonics (NYSE: NPTN) tumbled today after the company released its fourth-quarter results. Despite beating Wall Street's consensus earnings and revenue estimates, the company's stock fell.
The tech stock dropped by as much as 19.4% today and was down 15.8% as of 3:09 p.m. EST.
NeoPhotonics reported a non-GAAP loss per share of $0.14 in Q4, which was better than analysts' consensus estimate of a loss of $0.17 per share. The company also beat the Street's expectation of $67.3 million in revenue and instead reported sales of $68.2 million.