Shares of ION Geophysical (NYSE:IO) decreased 8.3% in after-market trading after the company reported Q2 results.
Quarterly Results
Earnings per share rose 49.41% over the past year to ($0.43), which beat the estimate of ($0.73).
Revenue of $19,714,000 decreased by 13.27% year over year, which missed the estimate of $21,400,000.
Guidance
ION Geophysical hasn’t issued any earnings guidance for the time being.
Revenue guidance hasn’t been issued by the company for now.
Price Action
Company’s 52-week high was at $5.35
52-week low: $1.28
Price action over last quarter: down 36.97%
Company Overview
ION Geophysical Corp is a United States-based technology-focused company, which provides geoscience products, services, and solutions to the global oil and gas industry. The company operates through two segments: E&P Technology & Services and E&P Operations Optimization. It generates the majority of its revenue comes from the Technology & Services segment which creates digital data assets and delivers services to E&P(exploration and production) companies. Its geographical segments are Latin America, North America, Europe, Asia Pacific, Africa, Middle East, and others.
