Shares of Plantronics (NYSE: PLT) tumbled on Wednesday after the headset and videoconferencing hardware provider reported its fiscal third-quarter results. Both revenue and earnings declined sharply, with revenue coming in below analyst expectations. As of 12:40 p.m. EST, the stock had fallen 36.2%.
Plantronics reported third-quarter revenue of $384.5 million, down 23.4% year over year and $14.7 million below the average analyst estimate. Product revenue plunged 28.9% to $316.6 million, while services revenue rose 20.6% to $67.8 million.
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