HCSG - Why Shares of Healthcare Services Group Dived by 14% Today
With a significant miss on the bottom line in its latest quarter, Healthcare Services Group (NASDAQ: HCSG) made for a sickly stock on Wednesday. The shares dived by 14%, even though the quarter was actually a mixed one for the company.
Healthcare Services Group's third-quarter results, published Wednesday morning, saw the company book revenue just shy of $416 million, representing a nearly 5% decline from the same quarter last year. Net income suffered a steeper decline, a vertigo-inducing 65%, to fall to just over $9.5 million ($0.13 per share).
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Why Shares of Healthcare Services Group Dived by 14% Today