Shares of 3D Systems Corp. (DDD, Financial) plunged 27% on Wednesday after announcing third-quarter results on Tuesday. The company posted earnings of 2 cents per share on $164 million in revenue, a 7.6% year-over-year increase. The company fell 1 cent short of earnings estimates and $7.36 million short of revenue expectations.
The company reported 17% higher printer revenue on 93% higher printer unit sales, 14% growth in health care solutions, 2%Â growth in materials and 8% growth in software.
"We are pleased with our continued strong growth in printer units and printer revenue, in both metals and plastics, as we continue to have balanced execution across all regions," CEOÂ Vyomesh Joshi said.
The gross profit margin was 47.3% due to cost savings from ongoing supply chain cost reduction initiatives, despite the impact of sales mix and ramp-up of new products.
Shares of Yum China Holdings Inc. (YUMC, Financial) gained more than 15% after the company posted third-quarter earnings of 51 cents per share on $2.21 billion in revenue on Tuesday, growing 3.8% year over year. The company beat earnings estimates by 6 cents, but fell short of revenue expectations by $20 million.
Total system sales rose 4% year over year, with 6% growth at KFC despite the 2% decline at Pizza Hut. Same-store sales decreased 1% year over year, with a 1% increase at KFC and a 5% decrease at Pizza Hut. Further, the restaurant margin was 17.6%, down slightly from 18% in the prior-year quarter.
Operating profit increased 2% year over year to $269 million.
Moreover, during the quarter, the company repurchased approximately 2.7 million shares for $93.7 million, paying an average price of $35.14 per share.
It also declared a quarterly dividend of 12 cents, a hike of 20% from the prior dividend.
Shares of Shutterfly Inc. (SFLY, Financial) declined more than 15% after posting a third-quarter loss of $2.12 per share on $368.76 million in revenue on Tuesday, an 88.7% year-over-year increase. The company beat earnings estimates by 40 cents, but fell $8.78 million short of revenue expectations.
The company revised its guidance on net revenue and adjusted earnings before interest, taxes, depreciation and amortization. For the fourth quarter, it expects $970 million in revenue.
Disclosure: The author holds no positions in any stocks mentioned.
Read more here:
