Rob Roy, founder and chief executive officer of Switch Inc., center, rings the opening bell before the company's initial public offering (IPO) on the floor of the New York Stock Exchange (NYSE) in New York, Oct. 6, 2017.

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Switch shares plummeted as much as 24 percent after hours. The data storage company reported a loss per share of $2.09, which was much larger than the 12 cents Wall Street expected. Switch attributed the loss to a one-time compensation expense. Revenues beat estimates, and guidance for the upcoming year was in line with estimates.