Stock Track | Calix Stock Plunges on Disappointing Q3 Results

Stock Track10-29

Shares of Calix Inc (NYSE: CALX) plummeted by 5.42% on Monday after the communications equipment company reported weaker-than-expected financial results for the third quarter of 2024.

The company reported adjusted earnings per share of $0.13 for the quarter ended September 30, missing analysts' consensus estimate of $0.09 per share. Additionally, Calix's revenue fell 23.8% year-over-year to $200.95 million, falling short of analysts' expectations of $201.06 million.

Calix also reported a net loss of $3.97 million for the quarter, further disappointing investors. The company's stock had already declined by 13% year-to-date before the release of the Q3 results.

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