Why Axon Enterprise Stock Dropped 8.7% After Earnings
Shares of Axon Enterprise (NASDAQ: AAXN) tumbled in early trading Friday after the company on Thursday evening reported a sales beat but an earnings miss for the second quarter. Axon stock was trading 8.7% lower as of 11:35 a.m. EDT. Sales were the highlight of Axon's quarter, with revenues up 26% year over year, annual recurring revenue (including subscriptions to the Axon Evidence platform) up 42%, and gross profit margins on that revenue 62.4% -- "the highest it has been since Q3 2018," said Axon).
