3D Systems (NYSE:DDD) unveiled its latest quarterly earnings results late on Tuesday afternoon, bringing in figures that failed to live up to expectations as the company’s loss was wider than what Wall Street projected in its forecast, while revenue was also below the cut, playing a role in DDD stock sinking close to 15% after hours.
The Rock Hill, S.C.-based 3D printer maker said that for its first quarter of its fiscal 2019, it posted a loss of $24.4 million, which tallied up to roughly 22 cents per share. This figure game in at 9 cents per share when adjusted for stock option expense and severance costs.
These results were weaker than what the Wall Street consensus estimate called for as the average projection of five analysts who were surveyed by Zacks Investment Research was for 3D Systems to bring in a loss of a penny per share. The company added that its sales for the quarter came in at $152 million, which was also below what Wall Street called for in its revenue outlook.
The Wall Street guidance of four analysts who were surveyed by Zacks saw the business bringing in sales of $166.2 million on average.
DDD stock was down about 4.1% during regular trading hours as the company geared up to report its results for its first three-month period of its fiscal 2019. Shares then declined a whopping 14.1% after the bell Tuesday as 3D Systems unveiled results that were considerably weaker than what the Wall Street guidance foresaw.
Article printed from InvestorPlace Media, https://investorplace.com/2019/05/3d-systems-earnings-ddd-stock-2/.
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