Digi International shares are trading lower after the company reported Q2 financial results and issued Q3 guidance below estimates. Also, the company issued weak FY24 revenue projection guidance.
Portfolio Pulse from Benzinga Newsdesk
Digi International's stock trades lower following its Q2 financial results, with Q3 guidance and FY24 revenue projections falling below expectations.
May 02, 2024 | 4:30 pm
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Digi International's shares are down after the company reported lower than expected Q2 financial results and provided weak Q3 guidance and FY24 revenue projections.
Digi International's shares are trading lower as a direct result of its Q2 financial performance not meeting expectations, coupled with its issuance of weaker than expected guidance for Q3 and FY24. This news is likely to negatively impact investor sentiment in the short term, as guidance below estimates often leads to decreased confidence in a company's future growth potential and profitability.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100