Why Doximity Stock Fell Sick on Friday
Shares of Doximity (NYSE: DOCS) slumped Friday, tumbling as much 13.5%. As of 2:06 p.m. ET, the stock was still down 10%.
The cloud-based networking platform for doctors and other healthcare professionals delivered financial results that beat expectations. At the same time management provided guidance that left investors wanting more. Looking a little deeper, however, reveals a good reason for the change in guidance.
For its fiscal 2023 third quarter (ended Dec. 31), Doximity generated revenue of $115.3 million, up 18% year over year, resulting in adjusted earnings per share (EPS) of $0.22, down 24%.
Source Fool.com
