Why GoodRx Holdings Stock Dived by Nearly 19% Today
Online pharmacy company GoodRx Holdings (NASDAQ: GDRX) wasn't the healthiest stock on the market Thursday. Its share price fell sharply, by almost 19% on the day, following the release of a new set of quarterly results. That steep decline wasn't indicative of the broader equities space at all, as the S&P 500 index declined by a comparatively very modest 0.8%.
GoodRx's third quarter saw the next-generation pharmacy earn revenue of just under $180 million, which unfortunately for it was notably below the analyst consensus of more than $188 million. It was also lower than the third-quarter 2022 figure of a bit over $187 million.
The dynamic was similar for adjusted non-GAAP (generally accepted accounting principles) net income; this slid to $25.5 million ($0.06 per share) from the year-ago profit of $29.9 million. Despite the drop, the result was in line with prognosticator projections.
Source Fool.com
