Shares of LuxExperience BV (NYSE: LUXE) tumbled 5.03% in pre-market trading on Wednesday following the release of its fiscal first-quarter earnings report that fell short of analysts' expectations. The luxury experience provider reported wider losses and lower-than-anticipated revenue, sparking concerns among investors.
LuxExperience posted a fiscal Q1 loss of 0.70 euros ($0.81) per diluted share, significantly wider than the 0.27 euro loss reported in the same quarter last year. This figure also missed the FactSet consensus estimate of a 0.29 euro loss per share. On an adjusted basis, the company reported a loss of $0.31 per share, missing analyst expectations of a $0.28 loss by 10.71%.
Revenue for the quarter came in at 573.5 million euros, falling short of the 580.5 million euros analysts had projected. While this represents a substantial increase from 201.7 million euros in the year-ago period, the miss on both top and bottom lines has clearly unsettled investors. The disappointing results, coupled with the company's growing losses, appear to be the primary drivers behind the stock's pre-market plunge, as traders reassess LuxExperience's growth trajectory and profitability prospects.
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