Why Pluralsight Stock Got Destroyed Today
Shares of Pluralsight (NASDAQ: PS) got destroyed today, down by 23% as of 2:40 p.m. EST, after the company reported third-quarter earnings. The results beat analyst expectations, but investors were disappointed that billings growth is starting to decelerate.
Revenue in the third quarter came in at $99.5 million, which topped the consensus estimate of $95.4 million. That resulted in adjusted earnings per share of breakeven, while Wall Street was modeling for the educational technology company to lose $0.06 per share on an adjusted basis. Billings grew 9% to $100 million, which represented deceleration compared to 11% growth in the second quarter and missed estimates.
Image source: Pluralsight.
Source Fool.com
