Stock Track | Diebold Nixdorf Plunges on Q3 Earnings Miss Despite Upbeat Outlook

Stock Track11-07

Shares of Diebold Nixdorf Inc. (DBD) plummeted nearly 11% in pre-market trading on Wednesday after the banking and retail technology provider reported weaker-than-expected financial results for the third quarter of 2024.

For the quarter ended September 30, Diebold Nixdorf posted adjusted earnings of $0.53 per share, significantly lower than analysts' consensus estimate of $1.14 per share. The company's revenue of $927.1 million also narrowly missed Wall Street's expectations of $929.48 million.

The disappointing earnings results appear to have caught investors by surprise, triggering the sharp sell-off in Diebold Nixdorf's stock. However, the company maintained an upbeat outlook for the full year, stating that it expects to achieve the high end of its previously issued adjusted EBITDA guidance for 2024. This could potentially limit further downside for the shares.

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