Why Agilysys Stock Slumps After-Hours
Portfolio Pulse from Ryan Gustafson
Agilysys, Inc. (NASDAQ:AGYS) reported Q3 earnings of $0.35 per share, surpassing estimates of $0.26. Sales reached $60.60 million, exceeding expectations and marking a 21.39% increase year-over-year. Gross margin improved to 62.5%, and free cash flow was $11.3 million. The company maintained its full-year 2024 revenue guidance and raised its adjusted EBITDA outlook. Despite positive results, AGYS shares dropped 3.10% in after-hours trading.
January 22, 2024 | 10:05 pm
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Agilysys reported strong Q3 earnings and sales, exceeding analyst expectations with significant year-over-year growth. Despite this, shares fell in after-hours trading.
Agilysys' stock price decline despite outperforming earnings and sales estimates could be due to investors' reactions to other factors not mentioned in the article, such as market conditions or internal company expectations. The drop in after-hours trading indicates a negative short-term impact on the stock price.
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