112.03
0.83%
0.92
After Hours:
112.03
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Why is Revvity Inc (RVTY) Stock down?
We've noticed a 5.63% decline in Revvity Inc (RVTY) stock during the 2024-11-15 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
30 Oct, 2023:
Revvity Inc Stock (RVTY) dropped by 16.13% from $97.87 to $82.08 in the trading on Monday October 30, 2023. The reason why RVTY stock down today include:
- Weaker-than-expected third-quarter results: Revvity's quarterly revenue declined 5.8% Y/Y to $670.7 million, net income of $9.5 million, or $0.08 per share. Adjusted earnings from continuing operations were $1.18 per share, down from $1.21 per share in the same year-ago period. Analysts, on average, were expecting for adjusted earnings of $1.19 per share on revenue closer to $695 million. Revvity CEO attributed the bad performance due to an increasingly challenging end market environment.
- Lower full-year outlook: Revvity reduced its outlook for full-year 2023 revenue of $2.72 - $2.74 billion (down from $2.8 - $2.85 billion previously), with adjusted earnings per share of $4.53 - $4.57 (down from $4.70 - $4.90 before).
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