8x8 shares are trading lower after the company reported worse-than-expected Q1 financial results. Additionally, the company cut its FY25 revenue guidance and issued Q2 revenue guidance below estimates.
Portfolio Pulse from Benzinga Newsdesk
8x8 shares are trading lower after the company reported worse-than-expected Q1 financial results. Additionally, the company cut its FY25 revenue guidance and issued Q2 revenue guidance below estimates.
August 08, 2024 | 2:56 pm
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8x8 reported worse-than-expected Q1 financial results, cut its FY25 revenue guidance, and issued Q2 revenue guidance below estimates, leading to a drop in share price.
The company's worse-than-expected Q1 financial results and lowered revenue guidance for both FY25 and Q2 are significant negative indicators. This news is likely to lead to a short-term decline in the stock price as investors react to the disappointing performance and reduced future expectations.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100