Matterport Stock Sinks 17% on Revenue Miss and Lighter-Than-Expected Q1 Guidance
Shares of Matterport (NASDAQ: MTTR) dropped 16.9% on Wednesday, following the digital-twin platform operator's release on the prior afternoon of its fourth-quarter 2023 report. The stock's decline is probably largely attributable to the quarter's revenue, along with first-quarter 2024 revenue guidance, missing Wall Street's expectations.
The company fared better on the bottom line relative to analyst consensus estimates. The fourth quarter's adjusted earnings-per-share (EPS) result was in line with the Street's projection, as was the first quarter's adjusted EPS outlook. And full-year 2024 earnings guidance slightly exceeded the consensus estimate, while revenue was in line with it.
Data source: Matterport. YOY = year over year. GAAP = generally accepted accounting principles. *Calculation by author.
Source Fool.com
