Aquantia’s 4Q earnings miss Street estimates due to challenging data center end-market conditions
Aquantia Corp (NYSE:AQ) which operates in the semiconductor industry posted wider than expected losses in the fourth quarter due to the challenging data center end-market conditions.
For the quarter ended December 2018, the San Jose, California-based company posted a loss of $0.09 per share on revenue of $29.1 million. The consensus earnings estimate was $0.01 per share on revenue of $33.6 million. Revenue grew 4.5% on a year-over-year basis.
Encouraged by growth prospects
The company said it expects first-quarter revenue of $19.0 million to $21.0 million. The current consensus revenue estimate is $33.6 million for the quarter ending March 31, 2019.
“We are certainly disappointed in our fourth quarter results and outlook for the first quarter of 2019 due to the challenging data center end-market conditions,” said Aquantia Corp CEO Faraj Aalaei in a statement.
Aalaei, however, said the company nevertheless was “encouraged by the growth prospects” of its enterprise infrastructure and access businesses in 2019.
Aquantia designs and markets advanced high-speed communication integrated circuits for Ethernet connectivity in the data center, enterprise infrastructure, and access markets worldwide.
Aquantia stock fell 23.9% to $7.54.
Contact Uttara Choudhury at [email protected]
Follow her on Twitter: @UttaraProactive
Story by ProactiveInvestors
Source: https://www.proactiveinvestors.com/companies/news/214572/aquantias-4q-earnings-miss-street-estimates-due-to-challenging-data-center-end-market-conditions-214572.html
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).