Why New Relic Is Down Big Today

Following a mixed fiscal 2020 first-quarter earnings report, shares of New Relic (NYSE: NEWR), a software-as-a-service business that focuses on application performance management, dropped 28% as of 10 a.m. EDT on Wednesday.

The headlines numbers for the period were actually pretty good:

However, a few of the company's key metrics were quite weak:

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