Why ChannelAdvisor Stock Plummeted Today
Shares of ChannelAdvisor (NYSE: ECOM) have plummeted today, down by 15% as of 1:20 p.m. EDT, after the company reported second-quarter earnings. The results barely beat the market's expectations.
Revenue in the second quarter was $37.4 million, slightly ahead of the $37.3 million in sales that Wall Street was modeling for. That resulted in adjusted net income of $9.8 million, or $0.33 per share, compared to the consensus estimate of $0.32 per share in adjusted profits. The e-commerce technology company ended the quarter with $63.9 million in cash, up approximately $8 million on a sequential basis.
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Source Fool.com
