disappointed Wall Street on Wednesday with second-quarter revenue that fell short of analyst estimates, sending shares tumbling nearly 9% in after-hours trading.
"While we’ve made steady progress this year, we have more work to do to reaccelerate our growth," the company said in its quarterly letter to shareholders. Quarterly revenue climbed 2.7% from a year earlier to $8.2 billion, shy of analyst forecasts of $8.3 billion. The company estimated third-quarter revenue would hit $8.5 billion. Wall Street had been forecasting $8.7 billion.
"Some investors’ expectations for got too far ahead of what is looking like reality in management’s guidance," Huber said. "We've got a long way to go from where we are today, even getting to 10% " Chief Financial Officer Spencer Neumann said on a post-earnings interview with an analyst.