Planet Labs Posts Weaker-Than-Expected Q2 Results, Slashes FY24 Revenue Outook
Portfolio Pulse from Lekha Gupta
Planet Labs (NYSE:PL) reported weaker-than-expected Q2 FY24 results with a revenue increase of 11% Y/Y to $53.8 million, missing the consensus of $54.14 million. The company also lowered its FY24 revenue guidance to $216 million-$223 million from $225 million-$235 million earlier. Shares are trading lower by 4.22% at $2.95 premarket.
September 08, 2023 | 11:23 am
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NEGATIVE IMPACT
Planet Labs reported weaker-than-expected Q2 FY24 results and lowered its FY24 revenue guidance, leading to a drop in its share price.
Planet Labs' weaker-than-expected Q2 FY24 results and lowered FY24 revenue guidance are likely to negatively impact investor sentiment, leading to a drop in its share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100