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Why CalAmp Stock Fell Hard Today

·2 min read
Why CalAmp Stock Fell Hard Today
In this article:
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Shares of CalAmp (NASDAQ: CAMP) were tumbling today after the company reported first-quarter results that missed Wall Street's top- and bottom-line expectations. CalAmp reported a non-GAAP (adjusted) loss per share of $0.10 in the quarter, which was much worse than analysts' consensus estimate of a loss of $0.03. The company's revenue of $64.7 million -- a decrease of nearly 19% from the year-ago quarter -- was also below Wall Street's average estimate of $69.4 million.