Stratasys Q2 Earnings: Loss Widens, Cuts Workforce, Lowers Annual Projections, Stock Tumbles
Portfolio Pulse from Anusuya Lahiri
Stratasys reported a disappointing Q2 2024 with revenue and earnings below expectations, leading to a significant stock drop. The company plans workforce reductions and lowered its annual financial projections.
August 29, 2024 | 12:55 pm
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Stratasys reported Q2 2024 revenue of $138.04M, missing estimates, and a widened net loss. The company plans to cut its workforce by 15% and lowered its annual financial projections, causing a 15.2% drop in stock price.
Stratasys missed revenue estimates and reported a widened net loss, leading to a significant stock price drop. The company's decision to cut its workforce and lower financial projections further negatively impacts investor sentiment.
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