Why Elastic N.V. Stock Is Falling Hard Today
Shares of Elastic N.V. (NYSE: ESTC), an enterprise software company, were falling lower today after the company reported its second-quarter results. While Elastic beat Wall Street's top- and bottom-line expectations, the company also cut its full-year sales guidance.
As a result, the tech stock was down 7.4% as of 1:20 p.m. ET.
Elastic reported non-GAAP (adjusted) earnings that were flat in the second quarter, which was an improvement from a loss of $0.09 in the year-ago quarter and ahead of analysts' consensus estimate of a loss of $0.10 per share.
Source Fool.com