NEW YORK (TheStreet) -- Shares of Applied Optoelectronics (AAOI - Get Report) were falling 24.1% to $11.90 Tuesday after the chipmaker missed analysts' estimates for earnings for the third quarter.

Applied Optoelectronics reported earnings of 20 cents a share for the third quarter, missing the 23 cents a share that analysts expected for the quarter by 3 cents. Revenue grew 75.9% year over year to $36.54 million for the quarter, compared to analysts' expectations of $36.08 million for the quarter.

The company said it expects to report revenue of $39.5 million to $41.5 million for the fourth quarter, compared to analysts' estimates of $39.64 million for the quarter.

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