Why Inseego Stock Fell Hard Today
The share price of Inseego (NASDAQ: INSG), a provider of wireless broadband access equipment, plummeted today after the company reported worse-than-expected results for both its top and bottom lines. Inseego's non-GAAP (adjusted) loss per share of $0.11 in the quarter was slightly worse than analysts' consensus estimate of a loss of $0.10 per share. Inseego's first-quarter sales increased by just 6.5% to $61.4 million, which was below analysts' average sales estimate of $62.6 million.