Stock Track | Procore Stock Plunges After Hours Despite Q3 Beats as Q4 Guidance Disappoints

Stock Track10-31

Shares of Procore Technologies (NYSE: PCOR), a leading provider of construction management software, plummeted more than 9% in after-hours trading on Monday, October 30, 2024, despite reporting better-than-expected third-quarter results. The steep decline came after the company provided disappointing revenue guidance for the fourth quarter.

For the third quarter of fiscal 2024, Procore reported revenue of $295.9 million, beating analysts' estimates of $287.6 million by 2.9%. The company's adjusted earnings per share of $0.24 also surpassed Wall Street's expectations of $0.22 by 9.4%. Despite these beats, Procore's revenue guidance for the fourth quarter fell short of analysts' projections, weighing heavily on investor sentiment.

The company expects fourth-quarter revenue to be around $297 million, which falls 1.3% below the consensus estimate of $301 million. While Procore's year-over-year revenue growth of 19.4% in Q3 was impressive, the lower-than-anticipated guidance for Q4 raised concerns about a potential slowdown in the company's growth trajectory.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1150985720?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-10-31 05:28","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1150985720","market":"hk","top_or_hot":-1,"title":"Stock Track | Procore Stock Plunges After Hours Despite Q3 Beats as Q4 Guidance Disappoints","media":"Stock Track","content":"<p>Shares of Procore Technologies (NYSE: PCOR), a leading provider of construction management software, plummeted more than 9% in after-hours trading on Monday, October 30, 2024, despite reporting better-than-expected third-quarter results. The steep decline came after the company provided disappointing revenue guidance for the fourth quarter.</p>\n\n<p>For the third quarter of fiscal 2024, Procore reported revenue of $295.9 million, beating analysts' estimates of $287.6 million by 2.9%. The company's adjusted earnings per share of $0.24 also surpassed Wall Street's expectations of $0.22 by 9.4%. Despite these beats, Procore's revenue guidance for the fourth quarter fell short of analysts' projections, weighing heavily on investor sentiment.</p>\n\n<p>The company expects fourth-quarter revenue to be around $297 million, which falls 1.3% below the consensus estimate of $301 million. While Procore's year-over-year revenue growth of 19.4% in Q3 was impressive, the lower-than-anticipated guidance for Q4 raised concerns about a potential slowdown in the company's growth trajectory.</p>","source":"ai_movement_en","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stock Track | Procore Stock Plunges After Hours Despite Q3 Beats as Q4 Guidance Disappoints</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStock Track | Procore Stock Plunges After Hours Despite Q3 Beats as Q4 Guidance Disappoints\n</h2>\n\n<h4 class=\"meta\">\n\n2024-10-31 05:28 北京时间&nbsp;&nbsp;&nbsp;<strong>Stock Track</strong>\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares of Procore Technologies (NYSE: PCOR), a leading provider of construction management software, plummeted more than 9% in after-hours trading on Monday, October 30, 2024, despite reporting better...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"PCOR","symbol_name":"Procore Technologies","start_time":0,"source_url":"","article_id":"1150985720","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1150985720","pubTimestamp":1730323709,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Procore Technologies , a leading provider of construction management software, plummeted more than 9% in after-hours trading on Monday, October 30, 2024, despite reporting better-than-expected third-quarter results. The steep decline came after the company provided disappointing revenue guidance for the fourth quarter.For the third quarter of fiscal 2024, Procore reported revenue of $295.9 million, beating analysts' estimates of $287.6 million by 2.9%. The company's adjusted earnings p","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"PCOR":"Procore Technologies"},"translate_title":"尽管第三季度业绩好于第四季度指引令人失望，但Procore股价盘后暴跌","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PCOR":1},"content_text":"Shares of Procore Technologies (NYSE: PCOR), a leading provider of construction management software, plummeted more than 9% in after-hours trading on Monday, October 30, 2024, despite reporting better-than-expected third-quarter results. The steep decline came after the company provided disappointing revenue guidance for the fourth quarter.\nFor the third quarter of fiscal 2024, Procore reported revenue of $295.9 million, beating analysts' estimates of $287.6 million by 2.9%. The company's adjusted earnings per share of $0.24 also surpassed Wall Street's expectations of $0.22 by 9.4%. Despite these beats, Procore's revenue guidance for the fourth quarter fell short of analysts' projections, weighing heavily on investor sentiment.\nThe company expects fourth-quarter revenue to be around $297 million, which falls 1.3% below the consensus estimate of $301 million. While Procore's year-over-year revenue growth of 19.4% in Q3 was impressive, the lower-than-anticipated guidance for Q4 raised concerns about a potential slowdown in the company's growth trajectory.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"movement","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1150985720"}