This week we get earnings reports from a Q2 straggler and an early Q3 release from names in the tech space.
Verifone and Box have seen their stocks suffer in 2016. While Box is beginning to show improvements heading into its report, Verifone is still struggling, and has seen massive downward revisions to earnings and revenue expectations.
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Payment processor Verifone is scheduled to report fiscal third-quarter earnings on Wednesday, one of the first Q3 reports of the season. The company is best known for payment terminals found at a large portion of retailers worldwide.
Its industry lead as a provider of electronic payment solutions has proved favorable for earnings, with the exception of last quarter, which showed a surprising miss of 7 cents on the bottom line, and growth that dropped out of the double digits. Those results kicked off a multimonth sell-off of the stock, which is now down more than 29 percent this year.
Currently the crowd is not looking for a rebound. EPS is expected to come in at 42 cents, a cent higher than Wall Street's forecast, which would show a 3 percent decline year-over-year and the first decline in over eight quarters. Revenues are slated to come in at $515.09 million, even lower than the sell-side expectation of $515.44 million, but still in positive growth territory at 2 percent.
Both of these metrics have been falling since the last quarterly report, with EPS expectations down 32 percent and revenues down 6 percent.