Trimble Q1 revenue beats estimates but stock drops 25%

Earnings

โดย Yahoo Finance·Read original

Summary · why it matters

Trimble reported first-quarter revenue of $939.9 million, up 11.8% year on year and exceeding analyst expectations by 3.8%. The company also delivered record annualized recurring revenue of $2.435 billion and raised its full-year guidance, the highest increase among the six internet of things stocks tracked. Despite the strong results, Trimble shares fell 25.2% since the report, suggesting investor expectations were even higher than published consensus estimates. The broader group of IoT stocks posted mixed results, with aggregate revenue beating estimates by 1.8% but share prices declining 6.1% on average.

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