Finisar Shares Plummet As Earnings, Outlook Miss Street View

By Wallace Witkowski Markets MarketWatch Pulse

Finisar Corp. shares dropped in the extended session Thursday after the fiber-optics equipment company's quarterly earnings and outlook fell below Wall Street views. Finisar shares dropped 17% to $29.10 after hours. The company reported adjusted fiscal third-quarter earnings of 59 cents a share on revenue of $380.6 million. Analysts surveyed by FactSet had estimated 62 cents a share on revenue of $389.7 million. For the fourth quarter, Finisar said it expects adjusted earnings of 50 cents to 56 cents a share on revenue of $360 million to $380 million. Analysts expect 58 cents a share on revenue of $393.4 million.

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