Why HashiCorp Stock Is Tumbling After Hours
Portfolio Pulse from Adam Eckert
HashiCorp Inc (NASDAQ:HCP) reported Q1 revenue of $137.98 million, beating estimates, and a loss of 7 cents per share, also better than expected. However, the company announced spending cuts and an 8% workforce reduction, causing its stock to tumble in after-hours trading.
June 07, 2023 | 8:29 pm
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HashiCorp's Q1 results beat estimates, but spending cuts and workforce reduction announcements led to a decline in stock price.
HashiCorp reported better-than-expected Q1 results, but the announcement of spending cuts and an 8% workforce reduction has negatively impacted investor sentiment, causing the stock price to decline in after-hours trading. This indicates a short-term negative impact on the stock.
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