Why Shockwave Medical Stock Dropped Today
Shares of Shockwave Medical (NASDAQ: SWAV) were down 9.5% as of 11:35 a.m. ET Tuesday, according to data provided by S&P Global Market Intelligence, after the company announced mixed second-quarter 2023 results relative to Wall Street's expectations.
Shockwave Medical's quarterly revenue climbed 49% year over year to $180.2 million, translating to net income of $28.9 million, or $0.76 per diluted share. Analysts, on average, were modeling lower revenue of $173.8 million, but higher earnings of $0.79 per share.
As Shockwave CEO Doug Godshall state:
Source Fool.com
