Wall St. Revenue Expectations: Analysts are projecting a decline of 24% in revenue from the year-earlier quarter to $4.14 billion.
Balance Sheet Analysis: The company’s current ratio of assets to liabilities came in at 1.13 last quarter. The current ratio is an indication of a firm’s liquidity and ability to meet creditor demands and generally, for every dollar the company owes in the short term, it has that figure available in assets that can be converted to cash in the short term. The company regressed in this liquidity measure from 1.58 in the second quarter to the last quarter driven in part by an increase in liabilities. Current liabilities increased 17.2% to $8.2 billion while assets decreased 15.8% to $9.28 billion.
On the top line, the company is hoping to use this earnings announcement to snap a string of two-straight quarters of revenue declines. Revenue fell 18.2% in the second quarter and dropped again in the third quarter.
Analyst Ratings: There are mostly holds on the stock with 12 of 20 analysts surveyed giving that rating.
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(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)