HashiCorp Shares Slip Despite Q2 Earnings Beat & FY24 Outlook Boost: Here's The Details
Portfolio Pulse from Lekha Gupta
HashiCorp Inc (NASDAQ:HCP) reported Q2 FY24 revenue of $143.2 million, beating the consensus of $138.22 million. Subscription revenue from HashiCorp Cloud Platform (HCP) rose to $18.4 million from $10.6 million a year ago. The company raised its outlook for adjusted EPS loss and revenue for FY24. Despite the positive earnings report, HCP shares are trading lower by 4.15% at $27.95 premarket on the last check Friday.
September 01, 2023 | 11:32 am
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Despite beating Q2 FY24 revenue estimates and raising its FY24 outlook, HashiCorp's shares are trading lower.
HashiCorp reported better than expected Q2 FY24 revenue and raised its FY24 outlook. However, despite the positive earnings report, the company's shares are trading lower. This could be due to market factors or investor sentiment not reflected in the earnings report.
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