Why Lightspeed Commerce Stock Was in the Slow Lane Today
Lightspeed Commerce (NYSE: LSPD), an ambitious company operating in the recently volatile fintech sector, reported its first quarter of fiscal 2023 results. Judging by the investor reaction to them, however, perhaps it wishes it hadn't. The company's share price subsequently plummeted to close 12% lower on the day.
Despite that, Lightspeed actually showed some rather encouraging double-digit growth. Revenue grew 50% year over year during the period to land at just under $174 million. Of that, subscription revenue rose by 47% to hit almost $74 million. Transaction-based revenue, comprising most of the remainder, notched a 62% improvement.
That total was good enough to beat the average analyst estimate, which was slightly over $168 million.
Source Fool.com
