(NASDAQ: DOMO) stock is getting pummeled in Friday's trading. The data-software company's share price was down 42.1% at 11:45 a.m. ET, according to data from S&P Global Market Intelligence.

Domo released its second-quarter results after the market closed yesterday, posting sales and earnings for the period that actually came in ahead of Wall Street's targets. The company recorded a non-GAAP (adjusted) loss per share of $0.02 on sales of $79.67 million in the quarter, while the average analyst estimate had called for a per-share loss of $0.09 on revenue of $78.9 million. While its Q2 results beat expectations, the company had some bad news on its demand outlook. 

Domo grew revenue roughly 5% year over year (YOY) in the second quarter and managed to post a narrower-than-expected loss, but other metrics also suggested demand softness to come. The company ended the quarter with remaining performance obligations (RPO) of $357.6 million -- up just 2% YOY. The specialist in business intelligence software also issued substantial downward revisions to its forward performance guidance. 

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Source Fool.com