Calix Faces Stock Decline Due to Weak Earnings Projections
Tuesday, 23 April 2024, 23:15
Calix Stock Plummet
Investors were disappointed by Calix's latest earnings report that indicated a decline in revenue and profit. The company's stock price dropped by more than 5% on the day.
Key Points:
- Revenue Decline: Revenue decreased by almost 10%, missing analyst estimates.
- Profit Hit: Non-GAAP net income also saw a significant drop from the previous year.
- Forecast Disappointment: Calix's guidance for the second quarter fell short of market expectations.
The decline was attributed to customer decisions impacting near-term purchases and build strategies.
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