ZIXI - Why Zix Stock Got Clobbered Today
Shares of Zix (NASDAQ: ZIXI) have gotten clobbered today, down by 23% as of 1:50 p.m. EDT, after the email cybersecurity specialist reported second-quarter earnings. The results were slightly ahead of expectations, but investors may have been looking for more given it's among the types of companies that are benefiting from the shift to remote work.
Revenue in the second quarter was $53.3 million, ahead of the $51.6 million in sales that Wall Street was anticipating. That resulted in adjusted net income of $8 million, or $0.15 per share. Analysts were modeling for $0.14 per share in adjusted profits. The email cybersecurity technology company added over 56,000 cloud mailboxes in the second quarter, bringing its total to nearly 1.1 million.
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