Is This Why MuleSoft, Inc. Stock Fell Today?

Is This Why MuleSoft, Inc. Stock Fell Today?

Shares of information technology company MuleSoft (NYSE: MULE) fell as much as 16.6% on Friday morning following the company's second-quarter earnings release. The stock is down 14.3% at the time of this writing.

A look at MuleSoft's earnings report fails to offer a concrete reason for the stock's subsequent sell-off. MuleSoft's second-quarter revenue of $69 million and adjusted loss per share of $0.10 came in higher than the company's guidance and higher than analysts' consensus estimates for the metrics. In addition, the company boosted its revenue guidance for the year. MuleSoft now expects total 2017 revenue between $279 million and $281 million, up from a previous forecast for revenue between $271 million and $274 million.

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Source: Fool.com