Shares of communications solutions provider AudioCodes (NASDAQ:AUDC) are tanking in the pre-market session today after its preliminary first-quarter numbers failed to impress investors.
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The company now expects Q1 top line to come in lower than earlier estimates. Revenue is anticipated between $58.5 million and $60 million. The range is nearly 10% to 12% lower than year-ago figures.
EPS is seen landing between $0.07 and $0.09. The Street, on the other hand, expects AUDC to deliver an EPS of $0.25 for the period. The subdued Q1 numbers are a result of uncertainty in customers’ spending decisions and demand weakness in the EMEA region.
AUDC also plans to announce a revised 2023 outlook along with operating expense rationalization plans on May 9, when it is slated to announce Q1 results.
Today’s price decline comes on top of a nearly 41% slide in AUDC shares over the past year. Nonetheless, the company has also delivered a 14.4% return on equity over the trailing 12 months.
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