This Is Why Zendesk Shares Are Falling Right Now
Shares of Zendesk (NYSE: ZEN) were tumbling today as investors were unenthused by the company's second-quarter results. Despite beating Wall Street's consensus earnings and revenue estimates, the cloud-based customer service specialist saw its share price drop by as much as 11.4% today.
As of 12:50 p.m EDT, the stock had rebounded slightly and was down by 9.1%.
Zendesk's second-quarter earnings per share of $0.14 easily beat analysts' estimate of $0.09 for the quarter. Additionally, the company's $246.7 million in revenue, an increase of 27% year over year, outpaced Wall Street's estimate of $240.6 million.
Source Fool.com
