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Why IPG Photonics Stock Plunged Today

TheMotleyFool

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Shares of IPG Photonics (NASDAQ: IPGP) were down 11.8% as of 3:15 p.m. EDT Tuesday after the optical-fiber laser specialist announced third-quarter 2019 results that were weaker than expected.

Quarterly revenue declined 8% year over year to $329.1 million, translating to a more than 40% decline in net income to $57.3 million, or $1.07 per share. For perspective, consensus estimates predicted higher earnings of $1.21 per share on revenue closer to $337 million.

Image source: Getty Images.

Source Fool.com

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