Stock Track | ADT Plunges 6.48% in Pre-Market After Q4 Earnings Miss Expectations
Stock Track
Mar 02
ADT Inc.'s stock fell sharply by 6.48% during pre-market trading on Monday. The significant drop occurred shortly after the company released its financial results for the fourth quarter.
The security solutions provider reported earnings per share (EPS) of USD 0.17 for the quarter, falling short of the analyst consensus estimate of USD 0.21. Furthermore, the company's quarterly revenue came in at USD 1,276 million, which also missed the expected USD 1.30 billion.
This dual miss on key financial metrics compared to Wall Street forecasts appears to have triggered the negative investor sentiment and subsequent selling pressure before the market opened.
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