Why ViewRay Stock Is Sinking Today

Shares of ViewRay (NASDAQ: VRAY) were sinking 20.9% as of 11:40 a.m. EDT on Friday. The decline came after the maker of medical imaging systems announced its second-quarter results following the market close on Thursday.

ViewRay reported second-quarter revenue of $15 million, up 5.6% year over year. This result topped the consensus revenue estimate of $14.42 million.

But the problem was with ViewRay's bottom line. The company posted a net loss in the second quarter of $31 million, or $0.19 per share. The average analysts' estimate was for a net loss of $0.16 per share.

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Source Fool.com