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Chip shortage hurts outlook of company formerly known as Plantronics

·1 min read
Chip shortage hurts outlook of company formerly known as Plantronics

Poly (POLY) the company formerly known as Plantronics, saw its shares fall in the extended session Thursday after the business audio and video products maker said the ongoing global chip shortage would affect its business. For the current quarter, Poly forecast adjusted earnings of 50 cents to 70 cents a share on revenue of $420 million to $440 million, while analysts had estimated 73 cents a share on revenue of $446.6 million. “The global semiconductor chip shortage has impacted companies worldwide and we expect we will continue to experience ongoing tightness in our supply chain,” the company said in a statement.