Applied Optoelectronics (AAOI) experienced a 24-hour plunge of 5.33% during post-market trading on Monday, reversing gains from earlier in the session.
The decline follows the company's recent first-quarter earnings report, which missed both revenue and earnings expectations. Adjusted EPS came in at $(0.07), significantly below the analyst consensus estimate of $(0.05), while revenue totaled $151.144 million, falling short of the $157.064 million estimate.
Broader weakness in the optical communication sector, triggered by Lumentum's earnings disappointment, has also contributed to the negative sentiment. This sector-wide pressure has led to increased volatility for AAOI and its peers in recent sessions.
Comments