Descartes Systems Group shares fall 1.77% premarket despite reporting record revenues and income from operations.

The Descartes Systems Group Inc. fell 1.77% in premarket trading. The company reported its fiscal second-quarter profit of $38 million, with earnings of 43 cents per share, which did not meet Wall Street expectations of 49 cents per share. However, the logistics provider posted revenue of $179.8 million, exceeding Street forecasts of $177.2 million. The CEO, Edward J. Ryan, noted that the business performed consistent with plans despite challenging market conditions for global trade.