Why PagerDuty Shares Are Diving Today
Portfolio Pulse from Lekha Gupta
PagerDuty Inc (NYSE:PD) shares dropped over 10% due to a soft outlook despite reporting Q2 FY24 revenue growth of 19% Y/Y to $107.62 million, beating the consensus of $104.18 million. The company expects Q3 adjusted EPS of $0.13-$0.14 vs. consensus of $0.15 and revenue of $106.5 million-$108.5 million vs. street view of $106.91 million. For FY24, the company revised the outlook for revenue to $426 million-$430 million from $425 million - $430 million vs. the consensus of $427.73 million.
September 01, 2023 | 12:42 pm
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PagerDuty's stock price dropped due to a soft outlook despite beating Q2 FY24 revenue consensus.
Despite beating the Q2 FY24 revenue consensus, PagerDuty's shares dropped due to a soft outlook. The company's Q3 adjusted EPS and revenue outlook is also lower than the consensus, which could negatively impact investor sentiment and the stock price.
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