Stock Track | IRSA Inversiones y Representaciones SA Plummets 5.10% Intraday on Disappointing Q2 Earnings

Stock Track01:41

Shares of IRSA Inversiones y Representaciones SA (NYSE: IRS) fell sharply by 5.10% during intraday trading on Wednesday, following the release of the company's second-quarter financial results.

The decline comes after the Argentina-based real estate company reported quarterly earnings of $0.66 per share, marking a significant 25% decrease compared to $0.88 per share in the same period last year. Furthermore, the company's sales for the quarter totaled $113.324 million, a 1.60% decline from the $115.169 million reported a year ago.

The weaker-than-expected performance in both earnings and revenue likely prompted the negative investor sentiment, leading to the stock's steep decline during the trading session.

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