Why Domo Stock Got Utterly Destroyed Today

Shares of Domo (NASDAQ: DOMO) have gotten utterly destroyed today, down by 34% as of 11:30 a.m. EDT, after the company reported second-quarter earnings. The results met or beat expectations, but investors were rattled because Domo also cut its full-year guidance.

Revenue in the second quarter of fiscal 2020 came in at $41.7 million, which is on target with consensus estimates. The cloud-based business analytics platform, which uses a software-as-a-service (SaaS) model, saw subscription revenue increase 24% to $34.9 million, and billings were $38.8 million. Non-GAAP net loss was $26.4 million, or $0.96 per share. Analysts were expecting Domo to lose $0.99 per share on an adjusted basis.

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Source Fool.com