By Denny Jacob
CommScope Holding shares fell 27% after reporting a surprise loss in its latest quarter.
Shares were trading around $5.06. The stock is up 77% on the year so far.
The provider of infrastructure solutions for communications networks posted a loss from continuing operations of $96.7 million, narrowing from a loss of $533.8 million a year earlier. However, analysts polled by FactSet had expected net income of $22.9 million.
Sales of $1.08 billion grew from $1.05 billion a year earlier, but also missed expectations. Analysts polled by FactSet were expecting $1.42 billion.
"Visibility continues to remain limited as upgrade timing and magnitude of network upgrades remain uncertain," said Chief Executive Chuck Treadway.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
November 07, 2024 10:54 ET (15:54 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。