Vertiv’s revenue falls short of expectations
Vertiv’s stock fell about 17% after the company reported revenue of $3.27 billion, missing the expected $3.38 billion.
The company’s adjusted earnings of $1.52 a share beat expectations of $1.43.
The revenue miss was enough to trigger a significant drop in the stock price, given the company’s high valuation of about 40 times its updated full-year profit guidance.