Amdocs (DOX) shares plummeted 9.65% during Tuesday's intraday trading session following the release of the company's first-quarter financial results.

The software and services provider reported Q1 adjusted earnings per share of $1.81, beating the Ibes estimate of $1.76. Revenue came in at $1,156 million, slightly above the estimated $1,154 million, representing a 4.1% year-over-year growth rate. However, the company's GAAP earnings per share was reported at $1.45.

The market's negative reaction suggests investors may have been disappointed with aspects of the earnings report, potentially including the modest revenue growth rate or the gap between adjusted and GAAP earnings figures.