Planet Labs Stock Dips After Q2 Revenue Misses Estimates: Details
Portfolio Pulse from Erica Kollmann
Planet Labs PBC reported Q2 financial results with a revenue miss, leading to a 1.61% drop in stock price after-hours. Despite meeting EPS estimates and showing growth in government sector revenue, the revenue miss impacted investor sentiment.
September 05, 2024 | 8:43 pm
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NEGATIVE IMPACT
Planet Labs reported Q2 revenue of $61.09 million, missing estimates by 1.17%, despite a 13.64% YoY increase. EPS met expectations, but the revenue miss led to a 1.61% drop in stock price after-hours.
The revenue miss, despite meeting EPS estimates, suggests potential concerns about growth prospects, leading to a negative short-term impact on the stock price. The after-hours drop of 1.61% reflects this sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100