Shares of Unisys (NYSE: UIS) plunged 48% in today’s session following its earnings report for its third quarter of Fiscal Year 2022.
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Adjusted earnings per share came in at $0.05, which beat analysts’ consensus estimate of -$0.13 per share. However, GAAP EPS came in at -$0.59, a slight miss.
In addition, sales decreased 5.5% year-over-year, with revenue hitting $461.2 million. This missed analysts’ target by almost $14 million.