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Despite positive Q1 results, lowered Q2 guidance led to a significant share price drop, historically impacting future stock performance.
What happened, with direct paths to the underlying reporting
ONT reported Q1 earnings of $1.51, beating estimates. Q2 guidance of $1.21-$1.35 EPS misses analyst expectations. Sales of $267 million also exceeded expectations for Q1. Shares dropped 29.1% following Q2 guidance announcement. Analysts maintained Buy ratings but lowered price targets significantly.
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