DZS shares are trading lower after the company announced it will restate its previously issued financial statements for Q1 2023 and lowered FY23 revenue guidance.
Portfolio Pulse from Benzinga Newsdesk
DZS announced it will restate its Q1 2023 financial statements and lowered its FY23 revenue guidance, causing its shares to trade lower.
June 01, 2023 | 1:24 pm
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NEGATIVE IMPACT
DZS shares are trading lower due to the restatement of Q1 2023 financial statements and lowered FY23 revenue guidance.
DZS's decision to restate its Q1 2023 financial statements and lower its FY23 revenue guidance indicates potential financial issues or inaccuracies, which negatively impacts investor confidence and causes the stock price to trade lower in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100