AXT shares are trading lower after the company reported worse-than-expected Q3 revenue results and issued Q4 revenue guidance below estimates.
Portfolio Pulse from Benzinga Newsdesk
AXT shares declined due to disappointing Q3 revenue results and lower-than-expected Q4 revenue guidance.
November 01, 2024 | 4:06 pm
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AXT reported Q3 revenue results that were worse than expected and provided Q4 revenue guidance below estimates, leading to a decline in its stock price.
The company's financial performance did not meet market expectations, which typically results in a negative reaction from investors. The lower-than-expected Q4 guidance further exacerbates concerns about future performance, leading to a decline in stock price.
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