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Why Freshworks Stock Is Plummeting Today

TheMotleyFool

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Why Freshworks Stock Is Plummeting TodayPhoto, wide shot, wide-angle lens, Artificial intelligence developer, sunset photo at golden hour, photo by Art Wolfe: https://img.theapi.app/temp/12e2798a-1095-4653-8f49-2a7aee633b4e.png

Shares of Freshworks (NASDAQ: FRSH) are sinking in Wednesday's trading. The customer-relationship-management (CRM) software stock was down 8.4% at 10:30 a.m. ET despite the recent publication of first-quarter results that came in ahead of the market's expectations on key fronts.

Freshworks published its Q1 results after the market closed yesterday, posting top- and bottom-line results that topped analyst targets. The company reported a non-GAAP (adjusted) loss per share of $0.01 on revenue of $114.6 million, while the average analyst estimate had called for an adjusted loss of $0.05 per share on sales of $108.24 million.

Image source: Getty Images.

Source Fool.com

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