Software Stock SolarWinds Plunges After Q2 Beat, Guidance Boost (UPDATED)
Portfolio Pulse from Anusuya Lahiri
SolarWinds Corp (NYSE:SWI) reported better-than-expected Q2 2024 results with revenue and EPS beating analyst estimates. Despite this, the stock price fell. The company provided an optimistic outlook for Q3 and fiscal 2024, raising its revenue and EPS guidance.
August 01, 2024 | 2:31 pm
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SolarWinds reported Q2 2024 revenue of $193.3 million, beating estimates. Adjusted EPS of 26 cents also surpassed expectations. Despite the positive results, the stock fell 2.43%. The company raised its guidance for Q3 and fiscal 2024.
Despite beating Q2 estimates, the stock fell, likely due to concerns over declining maintenance and license revenues. However, the raised guidance for Q3 and fiscal 2024 suggests a positive outlook, which could lead to a rebound in the stock price.
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