Stock Track | Houlihan Lokey Plunges 9.12% After-Hours on Q1 Earnings Miss
Stock Track
Jul 30
Shares of Houlihan Lokey (HLI) plummeted 9.12% in after-hours trading on Wednesday following the release of its fiscal first-quarter earnings report.
The significant drop was triggered by the company's financial results, which fell well short of analyst expectations. Houlihan Lokey reported quarterly revenue of $511 million, compared to the IBES estimate of $630 million. Furthermore, adjusted net income came in at $91 million, missing the consensus estimate of $121.4 million.
The earnings miss across both top and bottom lines has prompted a sharp negative reaction from investors, leading to the considerable after-hours decline in the stock.
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