Why Shares of Impinj Are Crashing Today

Shares of radio-frequency-identification solutions provider Impinj (NASDAQ: PI) sank on Thursday following a disappointing third-quarter report. The company missed analyst estimates for earnings and provided guidance that left a lot to be desired. The stock was down about 35% at 11:20 a.m. EDT.

Impinj reported third-quarter revenue of $32.6 million, up 5% year over year and in line with the average analyst estimate. The company slashed its full-year guidance in August, citing customer delays. Impinj now expects to see a slight decrease in integrated circuit (IC) volumes during the second half of the year, implying a rough fourth quarter.

Image source: Getty Images.

Source: Fool.com