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Why Yext Stock Plummeted Today

TheMotleyFool

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Shares of Yext (NYSE: YEXT) have plummeted today, down by 13% as of 11:15 a.m. EDT, after the company reported fiscal second-quarter earnings. The brand marketing specialist's outlook came in a little light.

Revenue in the fiscal second quarter grew 32% to $72.4 million, with gross margin contracting to 73.4%. The company attributed the reduced profitability to higher cost of revenue. That all translated into an adjusted net loss of $12.7 million, or $0.11 per share. That was slightly less red ink than the $0.12 per share in adjusted losses that analysts were modeling for.

Image source: Getty Images.

Source Fool.com

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