Why Cardlytics Stock Plunged Today

Shares of Cardlytics (NASDAQ: CDLX) have plunged today, down by 11% as of noon EDT, after the company reported second-quarter earnings. The results were mixed compared to analyst expectations.

Revenue in the second quarter declined by 42% to $28.2 million, which resulted in an adjusted net loss of $10.2 million, or $0.38 per share. Consensus estimates had called for $30.8 million in sales and an adjusted net loss per share of $0.47. Billings fell 46% to $39.5 million and financial institution monthly active users (FI MAUs) were 157.2 million.

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Source Fool.com