Inseego (INSG) In Downtrend After The Lacklustre Earnings

One of the stocks that dipped considerably in premarket trading today is that of Inseego Corp (NASDAQ: INSG). Late Monday, the company announced its financial results for the fourth quarter and failed to meet expectations with regards to the earnings per share metric.

Inseego lost 7 cents a share on the non-GAAP basis, which was short of estimates by 7 cents. On the other hand, the losses per share on a GAAP basis came in at 14 cents, which was again short of expectations by 9 cents.

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Although the company managed to beat revenue expectations, the stock tanked and went down by as low as 11.50% in premarket trading today. The operating loss for the fourth quarter on a GAAP basis stood at $8.6 million and the net loss on the same basis came in at $12.7 million. The dip in the Inseego stock is hence not completely surprising. However, it could be interesting to track the stock and see if it can stage a recovery today.

Michael Rowels

Weekend Contributor. Writing for business and finance publishers has become his passion over the last decades after he completed a master's degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.