Trimble stock falls 7% after company misses sales expectations
Shares of Trimble Inc. fell nearly 7% in the extended session Wednesday after the developer of GPS-based software reported mixed fourth-quarter results, missing sales expectations. Trimble said it earned $86.5 million, or 34 cents a share, in the quarter, versus a loss of 14 cents a share in the fourth quarter of 2017. Adjusted for one-time items, Trimble earned $122.3 million, or 48 cents a share, compared with 37 cents in the fourth quarter of 2017. Revenue rose 12% to $786 million in the quarter. Analysts polled by FactSet had expected adjusted earnings of 46 cents a share on sales of $809 million. Trimble shares ended the regular trading day up 1.4%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.