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Why Maxar Technologies Stock Crashed 10% Today

·1 min read
Why Maxar Technologies Stock Crashed 10% Today
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Shares of Maxar Technologies (NYSE: MAXR) are falling today, down by 9.7% as of of 12:45 p.m. EDT, after the company reported second-quarter results. For fiscal Q2, Maxar posted revenue of $473 million, which represented a 7.7% year-over-year increase that CEO Dan Jablonsky characterized as "solid." Earnings of $0.60 per share were down significantly from the prior-year period's $4.94 in EPS, but only because last year, Maxar sold off its MDA space business, generating a big one-time profit for the company that was impossible to repeat.