What's Going On With Lightspeed Stock After Earnings?
Portfolio Pulse from Erica Kollmann
Lightspeed Commerce Inc (NYSE:LSPD) shares are trading higher after the company reported better-than-expected first-quarter results, with earnings of 10 cents per share and sales of $266.09 million. Total revenue increased 27% year-over-year, driven by a 44% increase in transaction-based revenue and a 6% increase in subscription revenue. The company projects second-quarter revenue of $270 million to $275 million and fiscal year revenue growth of at least 20%.
August 01, 2024 | 6:53 pm
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Lightspeed Commerce Inc (NYSE:LSPD) shares are trading higher after the company reported better-than-expected first-quarter results, with earnings of 10 cents per share and sales of $266.09 million. Total revenue increased 27% year-over-year, driven by a 44% increase in transaction-based revenue and a 6% increase in subscription revenue. The company projects second-quarter revenue of $270 million to $275 million and fiscal year revenue growth of at least 20%.
The better-than-expected earnings and significant year-over-year revenue growth are positive indicators for Lightspeed Commerce's stock. The company's strong performance in transaction-based and subscription revenue, along with optimistic future revenue projections, are likely to boost investor confidence and drive the stock price higher in the short term.
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