Investing.com - Ucloudlink reported on Wednesday third quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
Ucloudlink announced earnings per share of $-0.02 on revenue of $18.21M. Analysts polled by Investing.com anticipated EPS of $-0.09 on revenue of $19.8M.
Ucloudlink shares are down 70% from the beginning of the year and are trading at $1.94 , down-from-52-week-high.
Ucloudlink shares lost 6.28% in intra-day trade following the report.
Ucloudlink follows other major Communication Services sector earnings this month
Ucloudlink's report follows an earnings missed by Alphabet C on Tuesday, October 25, 2022, who reported EPS of $1.06 on revenue of $69.09B, compared to forecasts EPS of $1.26 on revenue of $71B.
Tencent ADR had beat expectations on Tuesday with third quarter EPS of $0.47 on revenue of $19.92B, compared to forecast for EPS of $0.4463 on revenue of $20.14B.
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