Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Here’s Why RigNet Inc’s Stock Is Plunging Today

TheMotleyFool

0 0

Here’s Why RigNet Inc’s Stock Is Plunging Today

Shares of RigNet (NASDAQ: RNET) slumped on Tuesday and were down more than 10% at 2:30 p.m. EST. Fueling the sell-off was its third-quarter report, which missed analysts' expectations by a mile.

RigNet reported $50.8 million in revenue during the third quarter. This number was 0.5% above last year's third quarter, but was $0.5 million below the consensus estimate. Further, the company's net loss widened from $1.7 million, or $0.09 per share, in the year-ago period to $4.2 million, or $0.23 per share. That missed expectations by $0.14 per share.

Image source: Getty Images.

Source: Fool.com