Shares of A10 Networks, Inc. (ATEN), a provider of secure application services and solutions, have plunged nearly 30% Wednesday morning after the company provided its revenue expectation for the third quarter significantly below consensus estimate.
The company expects revenue in the third quarter to be between $56.5 million and $58.5 million. Analysts on average polled by Thomson-Reuters expect revenue of $74.65 million for the quarter.
“In our third quarter we experienced delays related to North American service provider customers pushing out capital expenditures. Deals we expected to close at the end of the quarter were delayed into future periods,” said Dhrupad Trivedi, President and Chief Executive Officer of A10 Networks.
ATEN is at $10.48 currently. It has traded in the range of $10.38 – $19.79 in the last 52 weeks.
Source: Read Full Article
-
Rocket Lab USA Falls After Launch Failure Of Its 41st Mission
-
Why Spot Bitcoin ETF Approval Odds Just Shot Up, According To Bloomberg
-
JetBlue Sees Wider Than Expected Loss In Q4, Cuts FY23 Outlook; Stock Dips In Premarket – Update
-
Standard Chartered Sees Bitcoin Breaking 2024 With A Mind-Blowing BTC Moonshot To $100,000 Price
-
Mark Yusko Predicts 410% BTC Surge: Key Catalysts Explained