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. 

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Source Fool.com