Why SVMK Stock Fell Today
Shares of SVMK (NASDAQ: SVMK) have fallen today, down by 7% as of 1:30 p.m. EST, after the SurveyMonkey parent reported third-quarter earnings. The company lost less than expected but guided fourth-quarter sales below Wall Street's forecasts.
Revenue in the third quarter came in at $79.3 million, which was right on target with what analysts were modeling for. That led to an adjusted net loss of $36,000, which rounded to breakeven per share, better than the $0.05 per share in red ink that investors were expecting. Paying users increased 15% to over 713,000 and enterprise sales accounted for 23% of revenue.
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Source Fool.com
