PagerDuty Shares Tumble 13% After Fiscal-Year Sales View Weakens
Dow Jones09-04
PagerDuty shares slid after the digital operations management platform cut revenue guidance and reported weaker sales growth than analysts had expected in the fiscal second quarter.
The stock was down 12.9% in premarket trading Wednesday.
After the closing bell, the company said it now expects $463 million to $467 million in revenue this fiscal year, down from previous guidance for $471 million to $477 million.
For the quarter ended July 31, revenue rose 7.7%, to $115.9 million, but missed analyst projections for $116.6 million, according to FactSet.
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