While posting record revenues can generally excite investors, context matters, as Iron Mountain Inc (NYSE:IRM) is finding out the hard way. Sure, some of the headline figures did stand out, with the enterprise information management specialist aggressively expanding its data center business, which of course is one of the hottest sectors right now. However, certain metrics appeared to spook investors away from IRM stock — which then potentially opens an opportunity for aggressive traders.
For the second quarter, Iron Mountain generated revenue of $1.71 billion, beating Wall Street analysts' consensus target of $1.68 billion. Last year, the company posted sales of $1.53 billion. On the bottom line, though, the information management firm — which is structured as a real estate investment trust (REIT) — only managed to deliver adjusted earnings per share of 48 cents. This figure missed the consensus view of 84 cents.
