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Why LivePerson Stock Plunged Today

TheMotleyFool

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Why LivePerson Stock Plunged TodayPhoto, wide shot, wide-angle lens, Consumer electronics manufacturer, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Hiroshi Sugimoto: https://img.theapi.app/temp/d8a4268f-c982-4aa8-a09e-f9ee1db62f57.png

Shares of LivePerson (NASDAQ: LPSN), a customer-engagement software company, were falling hard today after the company reported worse-than-expected fourth-quarter results.

The company missed top- and bottom-line consensus estimates and issued guidance for the full year that was well below expectations. As a result, shares of the tech stock plummeted 50.4% as of 10:59 a.m. ET on Thursday.

LivePerson reported a loss of $0.55 per share in the quarter, which was far worse than the consensus estimate for a loss of $0.35. The company's top line didn't fare any better, with sales of $122.5 million -- down 1% year over year -- missing the average analyst estimate of $126.9 million.

Source Fool.com

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