Why AvePoint Is Down More Than 12% Today
Shares of software company AvePoint (NASDAQ: AVPT) are down 12.7% as of midsession Monday in response to the release of third-quarter numbers and fourth-quarter guidance that aren't quite good enough.
For the three-month stretch ending in September, AvePoint lost $28.7 million -- or $0.05 per share -- on sales of $53.9 million. Analysts were modeling revenue of $52.6 million. Non-GAAP (adjusted) operating profits came in at $4 million, or roughly $0.02 per share, versus analyst estimates of $0.01 per share. That still wasn't enough excite the market despite the 36% year-over-year improvement in sales.
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Source Fool.com
