Mellanox Shares Fall As Quarterly Results, Outlook Miss Street View

By Wallace Witkowski Markets MarketWatch Pulse

Mellanox Technologies Ltd. shares dropped in the extended session Wednesday after the network products maker's quarterly results and outlook fell short of Wall Street estimates. Mellanox shares fell 12% to $45 after hours. The company reported adjusted first-quarter earnings of 29 cents a share on revenue of $188.7 million. Analysts surveyed by FactSet had forecast earnings of 49 cents a share on revenue of $204.7 million. For the second quarter, Mellanox expects revenue of $205 million to $215 million. Analysts estimate revenue of $223 million.

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