Matterport Stock Pops 26% on Earnings Beat, Guidance Raise
Shares of Matterport (NASDAQ: MTTR) are up 26.2% on Friday as of 1:52 p.m. ET, following the spatial-data company's release late yesterday of its third-quarter 2022 report.
The stock's rise is largely attributable to the quarter's revenue and earnings exceeding the Wall Street consensus estimate, as well as management increasing its full-year 2022 outlook for earnings. It also slightly raised the midpoint of its outlook range for annual subscription revenue.
Shares are also likely getting a tailwind from the broader market, as most major indexes are in the green, with the tech-heavy Nasdaq Composite up 1.8% as of this writing.
Source Fool.com
