Why PagerDuty Stock Dropped 13% This Morning
Shares of PagerDuty (NYSE: PD) stock sank as much as 13% in early trading Friday but are recovering -- down only about 7.3% as of 12:45 p.m. EDT. PagerDuty stock is, however, now trading back down below the company's IPO-day close after the automated-alert software maker reported strong sales growth but heavy losses in its fiscal Q2 2020 report last night.
Expected to lose $0.10 per share pro forma on sales of $39.1 million in the quarter, PagerDuty seems to have actually exceeded expectations, losing "only" $0.07 per share and reporting sales of $40.4 million.
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Source Fool.com
