Why NeoPhotonics Stock Tanked Today

Evan Niu, CFA, The Motley Fool
·2-min read
Why NeoPhotonics Stock Tanked Today

Shares of NeoPhotonics (NYSE: NPTN) have tanked today, down by 14% as of 12:50 p.m. EDT, after the company reported second-quarter earnings. The results beat expectations but NeoPhotonics' profit guidance fell short. In terms of guidance, revenue in the third quarter is forecast in the range of $97 million to $105 million, the midpoint of which is above the consensus estimate of $98.2 million.