Polycom Earnings: Here’s Why Investors are Selling Shares Now
Polycom, Inc. (NASDAQ:PLCM) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 1.16%.
Polycom, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 31.82% to $0.15 in the quarter versus EPS of $0.22 in the year-earlier quarter.
Revenue: Decreased 3.71% to $345.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Polycom, Inc. reported adjusted EPS income of $0.15 per share. By that measure, the company beat the mean analyst estimate of $0.14. It beat the average revenue estimate of $341.43 million.
Quoting Management: “Polycom delivered a solid financial performance in Q2, driven by our U.S. Enterprise and voice related businesses,” stated Kevin Parker, Polycom’s interim President and Chief Executive Officer. “Andy Miller’s resignation under these circumstances is disappointing and should not be viewed as a reflection of the financial integrity of the company, the strength of our team or our plans for the future. I look forward to working with the Polycom team, partners and customers to drive our strategy forward, and we thank Andy for his four years of service.”
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