Thoughtworks Sees Q3 2023 Revenue $275M-$285M Vs $326.93M Est; Sees Adj. EPS $0.02-$0.03 Vs $0.12 Est
Portfolio Pulse from Benzinga Newsdesk
Thoughtworks has projected its Q3 2023 revenue to be between $275M-$285M, which is significantly lower than the estimated $326.93M. The company also expects its adjusted EPS to be $0.02-$0.03, compared to the estimated $0.12.
August 08, 2023 | 12:49 pm
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NEGATIVE IMPACT
Thoughtworks' lower than expected Q3 2023 revenue and adjusted EPS projections could negatively impact its stock price.
Lower than expected earnings typically lead to a decrease in a company's stock price as it indicates potential financial instability or underperformance. In this case, Thoughtworks' significantly lower revenue and adjusted EPS projections for Q3 2023 compared to estimates could lead investors to sell their shares, resulting in a decrease in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100