Why NCR Corporation Stock Stumbled Today
Shares of NCR Corporation (NYSE: NCR) were down 11.3% as of 1:00 p.m. EDT Friday after the payment and banking solutions specialist announced mixed third-quarter 2017 results and reduced its full-year guidance.
More specifically, NCR's quarterly revenue fell 1% year over year to $1.66 billion, which translated to a 7% increase in adjusted earnings per diluted share to $0.93. By comparison, in July NCR told investors to expect revenue in the range of $1.66 billion to $1.70 billion and adjusted earnings per share of $0.88 to $0.93.
Looking forward, however, NCR also reduced its full-year outlook to call for revenue of $6.475 billion to $6.525 billion, down from $6.63 billion to $6.75 billion previously. On the bottom line, that should translate to full-year adjusted earnings per diluted share of $3.10 to $3.20, down from prior guidance of $3.32 to $3.42.
Source: Fool.com
