SWIR - Why Sierra Wireless Stock Got Crushed Today
Shares of Sierra Wireless (NASDAQ: SWIR) have gotten crushed today, down by 10% as of 11:35 a.m. EDT, after the company reported second-quarter earnings. The results beat expectations and Sierra Wireless warned of supply chain disruptions.
Revenue in the second quarter was $132.8 million, ahead of the $119.7 million in sales that analysts were modeling for. The Internet of Things (IoT) segment increased sales to $90.3 million, while the enterprise solutions business generated $42.5 million in revenue. Sierra Wireless reported an adjusted net loss from continuing operations of $1.1 million, or $0.03 per share. The consensus estimate had called for $0.15 per share in adjusted losses.
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Why Sierra Wireless Stock Got Crushed Today