Stratasys (SSYS) Q3 Earnings Top, Revenues Miss, View Cut
Zacks Investment Research | Nov 14, 2019 07:16AM ET
Stratasys Ltd. (NASDAQ:SSYS) reported third-quarter 2019 earnings of 12 cents per share, which topped the Zacks Consensus Estimate of 10 cents. Moreover, the bottom line was higher than the year-ago figure of 11 cents.
However, Stratasys’ revenues of $157.5 million missed the consensus estimate of $162 million and decreased 2.8% year over year.
Economic weakness in Europe, which affected capital investments and spending in the automotive and industrial machinery markets in that region, was a major headwind. Moreover, the adverse impact of foreign exchange rates in Europe and Asia Pacific affected the top line.
However, continued strength in the Americas, particularly in the Fortus platform, and F123 Series and J750 full color, multi-material 3D printers was a breather.
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