Why Confluent Stock Is Plummeting Today
Confluent (NASDAQ: CFLT) stock is getting crushed in Thursday's trading following the company's quarterly report yesterday. The company's share price was down 17.3% as of 12:45 p.m. ET, despite the S 500 (SNPINDEX: ^GSPC) being up 0.9% and the Nasdaq Composite (NASDAQINDEX: ^IXIC) being up 1.9%.
After market close yesterday, Confluent published results yesterday for the first quarter of its 2025 fiscal year, which ended March 31. The company actually reported sales and earnings for the period that came in ahead of Wall Street's expectations, but investors aren't happy with management's forward guidance.
Confluent reported sales of $271.1 million and non-GAAP (generally accepted accounting principles) adjusted earnings per share of $0.08 in fiscal Q1. Meanwhile, the average analyst estimate had targeted sales of $264.39 million and adjusted earnings per share of $0.07.
Source Fool.com
