U.S. markets open in 1 hour 52 minutes
  • S&P Futures

    4,166.00
    +12.50 (+0.30%)
     
  • Dow Futures

    33,289.00
    +134.00 (+0.40%)
     
  • Nasdaq Futures

    14,077.50
    +42.50 (+0.30%)
     
  • Russell 2000 Futures

    2,237.30
    +6.70 (+0.30%)
     
  • Crude Oil

    71.77
    +0.13 (+0.18%)
     
  • Gold

    1,783.80
    +14.80 (+0.84%)
     
  • Silver

    26.06
    +0.09 (+0.33%)
     
  • EUR/USD

    1.1895
    +0.0030 (+0.25%)
     
  • 10-Yr Bond

    1.4500
    0.0000 (0.00%)
     
  • Vix

    20.53
    +2.78 (+15.66%)
     
  • GBP/USD

    1.3887
    +0.0078 (+0.57%)
     
  • USD/JPY

    110.0970
    -0.0530 (-0.05%)
     
  • BTC-USD

    32,324.64
    -1,635.06 (-4.81%)
     
  • CMC Crypto 200

    787.67
    -152.27 (-16.20%)
     
  • FTSE 100

    7,008.39
    -9.08 (-0.13%)
     
  • Nikkei 225

    28,010.93
    -953.15 (-3.29%)
     

Plantronics Plunges On Fears Supply Chain Issues Could Hurt Results

·1 min read

By Dhirendra Tripathi

Investing.com – Plantronics (NYSE:PLT) shares plunged 24% as a weak guidance and supply chain bottlenecks spooked traders.

Absent supply shortages, the company said it believes demand would support sequential revenue growth after the March quarter. But the lack of available components like chips that go into its products could play spoilsport. It thus forecast numbers that are sequentially lower.

The company forecast GAAP net revenues in the June quarter to come between $410 million and $430 million, down almost 10% to nearly 14% from the $476 million it clocked in the March quarter.

Quarterly non-GAAP diluted EPS is seen coming anywhere between 35 cents and 55 cents, down from the March quarter’s $1.23.

The outfitter of professional-grade audio and video technology said it expected tightness to continue in its supply chain, cautioning stakeholders that even as end market demand remains strong for video and headsets, servicing it will be subject to the availability of components.

Related Articles

Plantronics Plunges On Fears Supply Chain Issues Could Hurt Results

GoodRx Rises Despite Weak Earnings, Forecast

Coca-Cola discontinues energy drink in North America