Shares of Immersion Corp. /zigman2/quotes/209597623/composite IMMR -0.58% plummeted 16% in premarket trade Friday, after the touch feedback technology company's second-quarter results missed expectations. The company reported late Thursday a net loss that narrowed to $7.8 million, or 25 cents a share, from $14.8 million, or 51 cents a share, in the same period a year ago. Excluding non-recurring items, the adjusted loss per share was 18 cents. The average estimate of two analysts surveyed by FactSet was for a loss of 14 cents a share. Revenue fell to $6.1 million from $7.0 million, while the FactSet consensus was for a rise to $9.6 million. The company affirmed its 2018 revenue outlook of $108 million to $118 million, taking into account the recently announced settlement with Fitbit Inc. /zigman2/quotes/202323205/composite FIT +1.09% , the terms of which were confidential. Immersion's stock had doubled (up 101.6%) year to date through Thursday, while the SPDR Techology Select Sector ETF /zigman2/quotes/207444675/composite XLK +1.41% had climbed 13% and the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.64% had gained 5.8%.
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