RadioShack warned that it expects its fourth quarter earnings to come in well below analysts expectations. The Street says analysts are expecting profits of 37 cents a share on average. RadioShack warned it only expects 11 to 13 cents a share for the quarter ending December 31.
The Wall Street Journalreports that RadioShack shares plunged 19% in after hours trading.
Reuters reports that RadioShack's problem is slow sales of Sprint wireless devices. RadioShack has growth with Verizon, AT&T and in tablets and e-readers, but this growth was not enough to overcome the large decrease in Sprint sales.
