Why Doximity Stock Is Sinking Today
Shares of Doximity (NYSE: DOCS) were sinking 7.1% lower as of 10:49 a.m. ET on Friday. The decline came after the company, which operates the leading digital platform for medical professionals in the U.S., announced its fiscal 2023 first-quarter results following the market close on Thursday.
Doximity reported Q1 revenue of $90.6 million, up 25% year over year. The company posted earnings per share of $0.10, based on generally accepted accounting principles (GAAP), and the number was higher than GAAP earnings per share of $0.09 in the prior-year period. Its non-GAAP earnings per share in Q1 were $0.14, compared to $0.11 in the same quarter of 2021.
The company topped the consensus estimates for both revenue and earnings. So why did shares tumble today? Doximity slashed its full-year guidance.
Source Fool.com
