Acacia Research Corp. (ACTG) reported first quarter adjusted EPS of $0.47 after the bell Thursday, compared to the consensus estimate of $0.42. Revenues dropped to $76.86 million from $99.04 million last year. Analysts expected revenues of $58.68 million.
Acacia Research gapped open sharply Friday and has fallen sharply in early trade. Shares are now down 6.67 at $22.90 on above average volume. The stock has plunged to a 4-month low.
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