Why Smith Micro Software Stock Plunged Today
Shares of Smith Micro Software (NASDAQ: SMSI) were tumbling today after the company reported worse-than-expected fourth-quarter results. The company missed analysts' consensus estimates for both revenue and earnings in the quarter.
The tech stock was down by 15.3% at the end of the trading day.
Smith Micro reported a non-GAAP net loss per share of $0.04 in the fourth quarter, which was worse than the $0.03 loss per share that Wall Street was expecting. Additionally, the company's sales of $14.7 million -- an increase of 18.5% from the year-ago quarter -- were below analysts' consensus estimate of $15.2 million for the quarter.
Source Fool.com
