Rover Group Sees Q4 Revenue $64M-$66M Vs $63.11M Est.; Raises FY23 Revenue Guidance To $230M-$232M Vs $225.97M Est.
Portfolio Pulse from Benzinga Newsdesk
Rover Group has raised its Q4 revenue guidance to $64M-$66M, up from $63.11M. The company also increased its FY23 revenue guidance to $230M-$232M, up from $225.97M. Both the low and high ends of guidance incorporate a moderated impact of macroeconomic headwinds compared to guidance provided in August 2023. The updated guidance range also incorporates a full year of normalized marketing expenses and operating costs compared to a partial year of each in 2022.
November 06, 2023 | 9:57 pm
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Rover Group has raised its Q4 and FY23 revenue guidance, which could lead to a positive market reaction.
Raising revenue guidance is typically seen as a positive sign by investors, as it indicates that the company expects to perform better than previously anticipated. This could lead to increased investor confidence in the company and a potential increase in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100