Investors Chew Up Invisalign Parent Align Technology's After-Hours Stock Price on Fiscal Q2 Revenue Miss
$Align Technology (ALGN.US)$ sank more than 10% Wednesday after the bell after the medical-device maker trailed analyst estimates for fiscal Q2 revenues and issued fiscal Q3 guidance on the light side of what analysts had been expecting.
ALGN fell 11.8% to $215.50 shortly before 5 p.m. ET following release of its quarterly results and forward guidance.
The stock eased after Align reported $1.03 billion of revenues in the three months ended June 30. That trailed the $1.04 billion that analysts' consensus estimate had reportedly called for.
Management also guided fiscal Q3 revenues at $980 million to $1 billion – potentially trailing analysts' $1 billion reported consensus forecast.
However, ALGN beat analysts' consensus for fiscal Q2 earnings per share, which came in at $2.41 compared to the $2.31 consensus that analysts had reportedly expected.
Align makes medical devices such as the Invisalign system, which helps straighten out people's teeth.
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