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Switch (SWCH) delivered earnings and revenue surprises of -66.67% and 1.30%, respectively, for the quarter ended June 2022. Do the numbers hold clues to what lies ahead for the stock?
LAS VEGAS , July 28, 2022 /PRNewswire/ -- Switch, Inc. (NYSE: SWCH) today announced that it will release its second quarter 2022 financial results after market close on Monday, August 8, 2022. As a result of the previously announced definitive merger agreement with funds managed by DigitalBridge Group, Inc. and IFM Investors to acquire all outstanding shares of Switch common stock in an all cash transaction, the Company will not conduct a second quarter 2022 earnings conference call.
Call it the “Apple problem.” In Snap's earnings results announced Thursday (July 21), the social media company recorded its weakest-ever quarterly sales growth, where sales were up 13% year on year to $1.1 billion.
This commentary first appeared on Forbes Great Speculations , where Schaeffer's Investment Research is a regular contributor.
Switch (SWCH) stock has been middling above the $33 level since its May bull gap, resting just below its May 11 record high of $33.84.
The privatization of the data center sector continues.
Switch (SWCH) delivered earnings and revenue surprises of -20% and 1.06%, respectively, for the quarter ended March 2022. Do the numbers hold clues to what lies ahead for the stock?