Why LivePerson Shares Got Clobbered Today

Shares of LivePerson (NASDAQ: LPSN) have gotten clobbered today, down by 11% as of 11:15 a.m. EDT, after the company reported third-quarter earnings. The results beat expectations, but shares had nearly doubled year to date so investors may have been pricing in even loftier expectations. LivePerson also said CFO Dan Murphy would be resigning in early 2018.

Revenue in the third quarter totaled $56.5 million, beating both the consensus estimate of $54.6 million as well as the high end of LivePerson's own guidance of $54 million to $55 million. That all translated into non-GAAP earnings per share of $0.05, which was right on target with the $0.05 per share in adjusted profit that analysts were modeling for.

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Source: Fool.com