Why Sumo Logic Stock Plummeted Today
Shares of Sumo Logic (NASDAQ: SUMO) plummeted today, down by 12% as of 11:10 a.m. EST, after the company reported fiscal fourth-quarter earnings. Sumo Logic also said that it would acquire DFLabs.
Revenue in the fiscal fourth quarter was $54.2 million, ahead of the consensus estimate of $52.1 million. That resulted in an adjusted net loss of $6.7 million, or $0.07 per share, which was also better than the $0.12 per share in adjusted losses that analysts were expecting. The technology company, which provides monitoring and security services to the enterprise, finished the quarter with $404.1 million in cash.
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Source Fool.com
