Yext stock drops on weak outlook following beat on quarterly results
Yext Inc. (YEXT) shares dropped in the extended session Thursday after the cloud-based software developer reported better-than-expected quarterly results but its outlook fell shy of Wall Street estimates for the current quarter. Yext shares fell 10% after hours, following a 3.3% rise in the regular session to close at $19.32. Yext forecast an adjusted loss of 10 cents to 8 cents a share on revenue of $87 million to $89 million for the fourth quarter, while analysts surveyed by FactSet had estimated a loss of 8 cents a share on revenue of $94.3 million for the quarter. The company reported a third-quarter loss of $22 million, or 18 cents a share, compared with $42.7 million, or 38 cents a share, in the year-ago period. The adjusted loss, which excluded stock-based compensation expenses and other items, was 2 cents a share, compared with 19 cents a share in the year-ago period. Revenue rose to $89.1 million from $76.4 million in the year-ago quarter. Analysts surveyed by FactSet had forecast a loss of 8 cents a share on revenue of $87.2 million.
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(END) Dow Jones Newswires
December 03, 2020 16:57 ET (21:57 GMT)
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