ADT Inc. (NYSE: ADT), a leading provider of security, automation, and smart home solutions, saw its stock plummet over 6% in the pre-market trading session on Monday. The decline came after the company reported mixed results for its fourth quarter earnings.
ADT reported revenues of $1.26 billion for the quarter, up 7.5% year-over-year and beating analysts' expectations by 2%. While the top-line performance was solid, the company's earnings per share (EPS) and adjusted operating income fell short of analysts' estimates.
The mixed earnings results have raised concerns among investors about ADT's ability to sustain growth and profitability amidst intense competition in the smart home security market. The pre-market sell-off suggests that traders are taking a cautious stance towards the company's prospects, at least in the near term.
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