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 (INSG) In Downtrend After The Lacklustre Earnings

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.

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.