What's Going On With Software Company Sprinklr Shares Today?
Portfolio Pulse from Lekha Gupta
Sprinklr Inc (NYSE:CXM) shares plummeted over 20% despite reporting Q3 FY24 results that exceeded consensus estimates. Revenue increased by 18% Y/Y to $186.3 million, surpassing the expected $180.4 million. Subscription revenue grew by 22% Y/Y, and both RPO and cRPO saw significant year-over-year increases. Non-GAAP operating income and adjusted EPS also beat expectations. The company raised its FY24 revenue and EPS guidance. However, shares dropped to $13.10 in premarket trading.
December 07, 2023 | 10:47 am
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Sprinklr Inc reported strong Q3 FY24 earnings with revenue and EPS exceeding estimates and raised FY24 guidance, yet shares fell over 20% in premarket trading.
Despite Sprinklr's positive earnings report and raised guidance, the stock price plummeted, which could be due to investor concerns not directly mentioned in the article, such as market conditions or internal company factors. The sharp decline in share price indicates a negative short-term impact, despite the company's strong performance.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100