Braskem SA (BAK) experienced a significant pre-market plunge of 5.08% following the release of its quarterly earnings results.
The company reported revenue of $2.98 billion for the quarter ended September 30, which represents a 9.1% decline year-over-year and fell short of analyst expectations of $3.19 billion. Additionally, Braskem reported a quarterly loss of $1.75 billion. While the company's adjusted loss per share of 2 cents beat analyst estimates, the substantial revenue miss and reported net loss appear to have driven negative investor sentiment during the pre-market session.
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