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Why New Relic Stock Fell Today

TheMotleyFool

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Shares of New Relic (NYSE: NEWR), a data platform company, fell today after the company reported a worse-than-expected loss in its fourth quarter and issued full-year earnings guidance that was far below Wall Street's consensus estimate.

The tech stock fell by as much as 12.9% today and was down by 2.9% as of 3:55 p.m. ET.

The company reported an adjusted loss per share of $0.24 in the fourth quarter, which was an improvement from the $0.27 loss in the year-ago quarter but fell short of analysts' average estimate of a loss of $0.21.

Source Fool.com

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