Stock Track | Fabrinet Plummets 12.30% Intraday Following Q2 Earnings Release Despite Beating Estimates

Stock Track02-03 22:40

Fabrinet's stock plummeted 12.30% during Tuesday's intraday trading session, extending pre-market losses that followed the company's second-quarter earnings release.

The optical manufacturing services provider reported fiscal Q2 results that exceeded analyst expectations, with adjusted earnings per share of $3.36 beating the $3.25 consensus estimate and revenue of $1.13 billion surpassing the $1.08 billion forecast. However, investors sold off the stock due to disappointment with the company's forward guidance or other concerns.

The decline began in after-hours trading following the earnings announcement, continued with significant pre-market selling pressure, and extended further during regular trading hours.

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