Freshworks Cuts FY24 Revenue Forecast From $703.5M-$711.5M To $695M-$705M (Est $708.351M); Raises Adj EPS Forecast From $0.29-$0.31 To $0.32-$0.35 (Est $0.30)
Portfolio Pulse from Benzinga Newsdesk
Freshworks has revised its FY24 revenue forecast downwards from $703.5M-$711.5M to $695M-$705M, below the estimated $708.351M, but raised its adjusted EPS forecast from $0.29-$0.31 to $0.32-$0.35, above the estimated $0.30.

May 01, 2024 | 8:43 pm
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NEUTRAL IMPACT
Freshworks lowers FY24 revenue forecast to $695M-$705M but raises adjusted EPS forecast to $0.32-$0.35.
The reduction in revenue forecast might concern investors about growth prospects, potentially putting downward pressure on the stock. However, the increase in the adjusted EPS forecast suggests improved profitability or cost management, which could counterbalance concerns and stabilize the stock price. The mixed signals make the short-term impact neutral, but with high relevance and importance due to direct financial implications.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100