Brocade’s revenue was seven percent higher year-over-year, up from $552.0 million.
(Source, " Brocade Reports Fiscal Q3 2016 Results," Brocade Communications Systems, Inc., August 25, 2016.)Īlthough the company beat the Wall Street estimates, investors were not entirely pleased with its financial performance because its adjusted earnings were 21% lower than the $0.27 per share it recorded in the third quarter last year. The company’s financial results were higher than the $0.16 in earnings per share and $573.94 million in revenue forecasted by analysts. If Brocade has been profitable, why is BRCD stock declining? Let’s take a closer look at its financial performance.ĭuring the third quarter, Brocade reported adjusted earnings of $0.21 per share and revenue of $590.72 million. Some investors are wondering whether it is time to exit their investments in Brocade stock or keep their positions. Brocade stock is currently trading around $9.21 per share, down by more than 11%. Over the past 52 weeks, BRCD stock slumped from its highest trading price of $10.94 to as low as $7.40 per share.
(NASDAQ:BRCD), the supplier of storage area networking (SAN) and Internet protocol (IP) networking solutions, has been profitable over the past four quarters and in recent years.ĭuring its fiscal third quarter this year alone, BRCD stock reported earnings that significantly topped the consensus estimate of Wall Street analysts.ĭespite being profitable, Brocade’s stock is declining. (NASDAQ:BRCD) is still profitable despite facing a challenging macro environment. Brocade BRCD stock NASDAQ:BRCD Brocade Communications Systems, Inc. 09:51:12 Brocade Communications Systems Inc. Brocade Communications Systems, Inc.: BRCD Stock Could Soar
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