JDS Uniphase (JDSU) shares plummeted following the company’s disappointing earnings report.
The fiber optic component maker released its third-quarter earnings report last night which missed revenue projections. JDSU stock is down a whopping 14.2% after the company released the disappointing quarterly earnings report.
JDS Uniphase’s revenue rose 3% year over year to $418 million, or earnings per-share of 10 cents. Analysts estimated revenue of $431 million with earnings per-share of 11 cents.
“Our fiscal third quarter revenue was impacted by later-than-expected carrier orders,” said CEO Tom Waechter. “But we are encouraged by a strong bookings performance and believe positive industry trends will drive improved top-line growth in our fiscal fourth quarter.”
JDSU stock is down about 16.3% YTD.
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