By late afternoon, shares had tumbled -11.2% to $25.68.
Over the three months to March, the IT company recorded a net loss of $1.15 a share compared to a net loss of 77 cents a share a year earlier.
Revenue declined 6% to $762 million from $810 million in the year-ago quarter. Analysts surveyed by Thomson Reuters had expected revenue of $826.13 million.
TheStreet Ratings team rates UNISYS CORP as a Sell with a ratings score of E+. TheStreet Ratings Team has this to say about their recommendation:
"We rate UNISYS CORP (UIS) a SELL. This is based on several weak investment measures, which should drive this stock to significantly underperform the majority of stocks that we rate. The company's weaknesses can be seen in multiple areas, such as its weak operating cash flow and poor profit margins."
- You can view the full analysis from the report here: UIS Ratings Report