By Stephen Nakrosis
Shares of Align Technology, which makes and sells the Invisalign System, were trading lower after-hours on Wednesday after it released third-quarter financial results, which missed some analysts’ estimates.
At 6:04 p.m. ET, the company’s stock was trading 24% lower at $194. The stock finished the day’s regular session down 4.4%, closing at $253.69. Year to date, the stock is up by more than 20%.
After the bell, the company reported third-quarter earnings per share of $1.58 on revenue of $960.2 million. Analysts were expecting $1.77, according to FactSet.
On an adjusted basis, the company reported third-quarter EPS of $2.14. Analysts were expecting $2.26 per share, according to FactSet. In the year-ago period, Align reported earnings per share of 93 cents on revenue of $890.3 million.
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