Shares of Kenvue Inc (KVUE) tumbled 8.08% in pre-market trading on Thursday after the consumer health company reported second-quarter revenue that fell short of Wall Street expectations.
The company posted quarterly sales of USD 3,955 million, missing the IBES estimate of USD 3,966 million. Kenvue also reported adjusted earnings per share of USD 0.31 and GAAP earnings per share of USD 0.24, with a pretax profit of USD 598 million for the quarter.
The top-line miss appeared to weigh heavily on investor sentiment, triggering the sharp pre-market sell-off as the market digested the results.
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