What happened Shares of Casa Systems (NASDAQ: CASA) slumped on Thursday after the provider of broadband infrastructure technology solutions reported its first-quarter results. The company badly missed analyst estimates for both revenue and earnings, sending the stock down about 15% by 11:15 a.m. EDT. So what "The first quarter was one of our toughest quarters," remarked Casa CEO Jerry Guo. First-quarter revenue was $35.5 million, down 60% year over year and more than $20 million below the average analyst estimate. An industrywide slowdown in hardware spending, large customers redirecting capital expenditures elsewhere, and a slower transition to wireless and fixed telco revenue than expected drove revenue lower. Image source: Getty Images. Non-GAAP earnings per share came in at a loss of $0.14, down from a profit of $0.23 in the prior-year period and $0.16 lower than analysts were expecting. Adjusted EBITDA was a loss of $7.7 million, down from a profit of $29.5 million in the prior-year period. Now what Casa is expecting a stronger second half, with CFO Maurizio Nicolelli pointing to a strong pipeline of opportunities. For the full year, the company expects revenue between $250 million and $300 million, and non-GAAP EPS between $0.30 and $0.40. With miserable first-quarter results, it's not surprising to see the stock selling off. 10 stocks we like better than Casa Systems, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has quadrupled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Casa Systems, Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of March 1, 2019Timothy Green has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source