Smartsheet Shares Are Sliding After Hours: What's Going On?
Portfolio Pulse from Adam Eckert
Smartsheet Inc (NYSE:SMAR) reported Q1 revenue of $219.89 million, beating estimates of $214.07 million, and adjusted EPS of 18 cents, surpassing estimates of 8 cents. Despite the positive results, shares fell 12.2% after hours. The company expects Q2 revenue between $228 million and $231 million and raised its full-year adjusted earnings guidance.
June 07, 2023 | 8:45 pm
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Smartsheet reported better-than-expected Q1 results, but its shares fell 12.2% after hours. The company raised its full-year adjusted earnings guidance.
Despite Smartsheet's better-than-expected Q1 results and raised full-year adjusted earnings guidance, its shares fell 12.2% after hours. This indicates that investors may have had higher expectations or are reacting to other factors not mentioned in the article. The short-term impact on the stock price is negative.
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IMPORTANCE 80
RELEVANCE 100