VeriFone Falls as Quarterly Revenue Misses Estimates
This article is for subscribers only.
VeriFone Systems Inc. tumbled after the maker of credit-card terminals reported third-quarter sales that fell short of analysts’ estimates, citing unfavorable currency swings, competition in Europe and a fire in Brazil.
The shares of San Jose, California-based VeriFone dropped 14 percent to $30.55 at the close in New York, the biggest decline since May. The stock has fallen 14 percent this year.