Thoughtworks Projects FY24 Net Sales Of $980M-$1.01B Vs. $1.13B Estimate, Sees FY24 EPS Of $0.01-$0.06 Vs. $0.22 Estimate
Portfolio Pulse from Benzinga Newsdesk
Thoughtworks has projected its FY24 net sales to be between $980M-$1.01B, which is below the estimated $1.13B. Additionally, the company forecasts its FY24 EPS to be in the range of $0.01-$0.06, significantly lower than the $0.22 estimate.
February 27, 2024 | 12:34 pm
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Thoughtworks has revised its FY24 financial guidance downwards, with both net sales and EPS projections falling short of market estimates.
The significant downward revision in both net sales and EPS projections for FY24 by Thoughtworks is likely to negatively impact investor sentiment and could lead to a decrease in the stock price in the short term. The projections are substantially lower than market estimates, which typically results in negative market reactions.
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