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QLogic Drops 8%: Cloud is Eating Enterprise Servers
2015-07-31 13:18:36| Semiconductors - Topix.net
Shares of component maker QLogic are down 88 cents, or almost 8%, at $10.50, after the company, which warned about slack revenue on July 9th , tonight delivered the formal results of the June quarter, and forecast this quarter's revenue lower as well, saying that cloud computing is changing its traditional market so much that it is looking to restructure and cut expenses. For the June fiscal Q1 , revenue was $113 million, as expected from the pre-announcement, and EPS of 19 cents was 2 cents better than analysts were expecting.
Tags: eating
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Category:Electronics and Electrical
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