Allot (NASDAQ: ALLT) stock fell hard on Tuesday, dropping 16% by 11:30 a.m. EST. The cybersecurity specialist announced third-quarter results that missed Wall Street's high expectations.
Sales rose 10% to $38 million, which marked a slight acceleration compared to the prior quarter, when revenue rose 8%. Allot benefited from strong demand for cybersecurity services and won a large deal with a U.S. wireless internet provider. "We continued to execute on our plan and grow [in the third quarter]," CEO Erez Antebi said in a press release.
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Source Fool.com