Why Yext Stock Plunged Today
Shares of Yext (NYSE: YEXT) were down 14.3% as of 3:15 p.m. EDT Friday after the online brand management specialist announced weaker-than-expected quarterly results and disappointing guidance.
Still, Yext's top-line growth looked impressive at first glance. For its fiscal third quarter ended Oct. 31, revenue climbed 30% year over year to $76.4 million, roughly in line with analysts' consensus estimates. But that also translated to an adjusted net loss of $21.6 million, or $0.19 per share, widening from a $0.10-per-share loss in the same year-ago period and exceeding estimates for a loss of $0.18 per share.
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Source Fool.com
