Vistance Networks, Inc. (VISN) saw its stock price plummet by 5.39% during intraday trading on Friday, marking a significant downward movement.
The sharp decline followed the company's release of its quarterly earnings report, which revealed both earnings per share and revenue fell well short of analyst expectations. For the quarter ended December 31, Vistance Networks reported adjusted earnings of 17 cents per share, missing the mean analyst estimate of 45 cents. Revenue also declined dramatically by 56% year-over-year to $514.50 million, far below the expected $1.52 billion.
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