US Stocks Movement | Despite Revenue Beating Expectations, Calix Plunges Over 15% Pre-market Due to Gloomy Outlook

Glonghui, July 21｜A certain exchange saw its stock drop more than 15% in pre-market trading, mainly due to its profit outlook for the current quarter falling short of market expectations when it released its second-quarter earnings report. Looking solely at the second quarter data (as of June 2026), the company actually outperformed analysts' forecasts: revenue reached $293.3 million, a year-on-year increase of 21%, exceeding the expected $290 million. The outlook guidance became the “culprit”—the company expects adjusted earnings per share for the third quarter to be between $0.37 and $0.45, while analysts' consensus expectation was $0.46. The company clearly stated that the continued rise in memory component costs will keep putting pressure on its profits, which aligns with the industry situation where booming AI demand is squeezing the production capacity of storage chips.