ZBRA - Why Zebra Technologies Stock Fell 16% on Tuesday
Shares of Zebra Technologies (NASDAQ: ZBRA) closed Tuesday's trading session 15.9% lower. The maker of barcode scanners and information management tools reported third-quarter results early in the morning, falling short of analyst estimates and Zebra's guidance targets across the board.
Zebra had expected top-line sales to rise approximately 3% year over year to $1.48 billion. Adjusted earnings were targeted at roughly $4.50 per diluted share. The consensus analyst view aligned almost exactly with the midpoint of Zebra's guidance.
However, the company saw revenues fall 4% to $1.38 million. Adjusted earnings dropped 10% lower, landing at $4.12 per share.
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Why Zebra Technologies Stock Fell 16% on Tuesday