NEW YORK (TheStreet) -- Quiksilver (ZQK) stock is one of the worst-performing on markets Tuesday after the surf and skate clothing company reported wider-than-expected net losses over its second quarter and as revenue tumbled double-digits from a year earlier.
Over the three months to April, the company recorded net losses of 15 cents a share, far wider than estimates for losses of 2 cents a share, according to analysts surveyed by Thomson Reuters. Revenue slid 10.4% year over year to $408.2 million, missing expectations for $448.6 million.
By market open, shares had tanked 40.8% to $3.43. Trading volume of 3.2 million shares had already surpassed its three-month daily average of 1.9 million.
Must Read: Warren Buffett's 25 Favorite Stocks
- You can view the full analysis from the report here: ZQK Ratings Report
WATCH: More market update videos on TheStreet TV | More videos from Keris Alison Lahiff
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV