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Why Elastic N.V. Stock Is Falling Hard Today

TheMotleyFool

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Why Elastic N.V. Stock Is Falling Hard TodayPhoto, wide shot, wide-angle lens, Computer hardware manufacturer, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Edward Burtynsky: https://img.theapi.app/temp/32e7a10f-efd0-424a-861f-2f3e0bb7ce02.png

Shares of Elastic N.V. (NYSE: ESTC), an enterprise software company, were falling lower today after the company reported its second-quarter results. While Elastic beat Wall Street's top- and bottom-line expectations, the company also cut its full-year sales guidance.

As a result, the tech stock was down 7.4% as of 1:20 p.m. ET.

Elastic reported non-GAAP (adjusted) earnings that were flat in the second quarter, which was an improvement from a loss of $0.09 in the year-ago quarter and ahead of analysts' consensus estimate of a loss of $0.10 per share.

Source Fool.com

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