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Why Telos Stock Fell Today

·2 min read
Why Telos Stock Fell Today
In this article:
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Shares of Telos (NASDAQ: TLS) were tumbling today after the company reported its first-quarter 2021 results late yesterday. Investors were disappointed in the first-quarter results of the cybersecurity company, even though sales increased 43% from the year-ago quarter, beating the company's prior guidance, and adjusted non-GAAP earnings per share were flat, compared to analysts' consensus estimate of a loss of about $0.05 per share. "We surpassed our expectations on both the top and bottom line as we were able to execute on our customers' request to accelerate deliveries expected in the second quarter into the first quarter," Telos CEO John Wood said in a press release.