Here's Why Shares of Applied Optoelectronics Plunged 16.5% Today
Shares of Applied Optoelectronics (NASDAQ: AAOI), a developer and manufacturer of advanced optical products, were tumbling today as investors processed the company's first-quarter 2020 financial results that were released Thursday. At the close on Friday, shares were down 16.5%.
The company reported revenue of $40.5 million, which was down 23% year over year and short of analysts' consensus estimate of $45 million. Meanwhile, its adjusted loss per share of $0.44 was worse than Wall Street's consensus estimate of $0.38.
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Source Fool.com