Why Axon Enterprise Stock Dropped 8.7% After Earnings
Shares of Axon Enterprise (NASDAQ: AAXN) tumbled in early trading Friday after the company on Thursday evening reported a sales beat but an earnings miss for the second quarter. Analysts had expected the maker of Taser stun guns and body cameras for police to report non-GAAP (i.e. pro forma) earnings of $0.16 per share on sales of $133.4 million. What Axon actually earned was only $0.01 per share, despite its sales for the quarter topping $141 million.
Axon stock was trading 8.7% lower as of 11:35 a.m. EDT.
Image source: Getty Images.
Source Fool.com
