Here's Why Accuray Stock Is Nosediving Today

Shares of Accuray (NASDAQ: ARAY) were nosediving 11.3% as of 11:33 a.m. EDT on Friday. The big drop came after the radiation oncology systems maker reported disappointing fiscal 2019 fourth-quarter results after the market closed on Thursday.

Accuray narrowly topped Wall Street estimates with revenue of $117.4 million in the fourth quarter. However, the company's net loss of $0.02 per share was worse than the $0.01-per-share net loss that analysts expected. Accuray also provided revenue guidance for full-year 2020 that was lower than anticipated.

Accuray CyberKnife System. Image source: Accuray.

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Source Fool.com