Agilent Technologies (A) - Get Report was down nearly 12% in trading Wednesday after the healthcare diagnostics company reported fiscal second-quarter earnings that missed analysts' expectations and lowered its guidance.
Agilent reported earnings of $182 million, or 71 cents per share, on revenue of $1.24 billion. Analysts were expecting the company to report earnings of 72 cents per share on revenue of $1.27 billion.
"While overall revenues were below our expectations, the story of our second-quarter results is one where we demonstrated the resilience of Agilent's business model," said Mike McMullen, Agilent president and CEO. "Two of our three business units continued to deliver strong growth while the third was affected by soft market conditions."
The company also revised its full-year revenue guidance to between $5.085 billion and $5.125 billion. Analysts are expecting the company to report revenue of $5.11 billion.
The company maintained its full-year earnings guidance of between $3.03 and $3.07 per share. Analysts are expecting earnings of $3.11 for the year.
Agilent shares were trading at $66.76 Wednesday.