Shares of Lightspeed Commerce Inc. (LSPD) plummeted 11.89% during intraday trading on Thursday, as the company's latest quarterly financial results disappointed investors.
The sharp decline followed the release of Lightspeed's fourth-quarter earnings, which showed adjusted earnings per share of $0.08, falling short of the consensus analyst estimate ranging from $0.11 to $0.12. This represents a significant earnings miss and a decrease from the $0.10 per share reported in the same quarter last year.
While the company reported revenue of $290.8 million, exceeding analyst forecasts and marking a 15% year-over-year increase, the market reaction was dominated by the earnings shortfall. Lightspeed also announced the renewal of its share repurchase program, authorizing the buyback of up to approximately 8.5 million shares.
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