A10 Networks Inc (ATEN)

Shares of A10 Network, Inc. (ATEN) dropped by 27.22% from $15.17 to $11.04 in the trading on Wednesday October 4, 2023. The ATEN stock is down due to the company's announcement on Tuesday of its preliminary third-quarter 2023 revenues, which fell short of the estimate. A10 Networks anticipates reporting third-quarter revenues ranging from $56.5 million to $58.5 million, significantly below the consensus estimate of analysts. This forecast also indicates a year-over-year decline in the range of 19% to 22%. The company attributed the decline in revenues to industry-related challenges, including delays in capital expenditures by North American service providers, leading to the postponement of deals originally slated for closure in the third quarter.