Shares of video conferencing technology equipment provider Polycom (PLCM) are down $3.58, or almost 17%, at $18.25 in late trading after the company reported Q3 revenue below consensus and missed by a penny on the bottom line.
Revenue in the three months ended in September rose 23% to $379 million, yielding EPS of 26 cents, excluding some costs.
Analysts had been modeling $388.3 million and 27 cents.
CEO Andrew Miller said the company’s “significant” revenue growth in emerging geographies and the U.S. federal government were offset by “lower year-over-year revenue growth in the enterprise customer segment.”
Americas revenue rose 16%, Europe, Middle East and Africa (EMEA) revenue was up 23%, and Asia-Pacific revenue rose 41%.
was impacted by weaker than expected business conditions particularly in the Communications and Industrial and Other categories.
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