Monday.com Stock Drops Amid Disappointing Full-Year Revenue Forecast
Translated & summarized from TheMarker by baba
Monday.com's stock fell 5.5% in early trading after the company issued disappointing revenue forecasts for the current quarter. While the company exceeded analyst expectations in the third quarter by about $8 million, its full-year revenue outlook was only slightly improved. Fourth-quarter revenue growth is projected at 14%, down from 19% in the third quarter.
The story in 4 lines · by baba
- Monday.com stock fell 5.5% in early trading due to disappointing quarterly forecasts.
- The company exceeded third-quarter revenue expectations by approximately $8 million.
- Monday.com's full-year revenue forecast was raised by only $1 million.
- Fourth-quarter revenue growth is projected at 14%, down from 19% in Q3.
Monday.com's stock experienced a 5.5% decline in early trading on Wall Street following the release of disappointing projections for the current quarter, the final one of the year. Despite surpassing analyst expectations in the third quarter, the company's optimistic outlook for its full-year revenue was only marginally higher, by $1 million, than its previous assessment.
The company's third-quarter revenue exceeded market forecasts by approximately $8 million. However, the projected revenue growth for the fourth quarter stands at 14%, a slowdown compared to the 19% growth achieved in the third quarter.
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