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Why Smartsheet Stock Just Dropped 10%

TheMotleyFool

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Shares of Smartsheet (NYSE: SMAR), a provider of workflow automation software, had tumbled 10.6% by 9:40 a.m. EDT Wednesday despite reporting an earnings beat Tuesday night.

Heading into its second-quarter 2022 earnings report, analysts had forecast the company would lose $0.13 per share (pro forma) on sales of only $125.5 million. As it turned out, Smartsheet lost only $0.05 per share, and its sales beat expectations, rising 44% year over year to $131.7 million.

Image source: Getty Images.

Source Fool.com

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