Why LiveRamp Stock Plummeted Today
Shares of middleware software company LiveRamp (NYSE: RAMP) plummeted on Tuesday after the company shared results from the second quarter of its fiscal 2021. Q2 revenue surpassed expectations, but management guided for slowing growth next quarter, which is likely the culprit for today's losses. As of 11:45 a.m. EST, LiveRamp stock was down 19%.
For Q2, LiveRamp's revenue was up 16% year over year to $105 million, exceeding expectations of roughly $100 million. Much of the company's revenue is recurring, with $86 million in Q2 subscription revenue, representing a more robust 19% increase from last year. Finally, annual recurring revenue (an annualized projection based on the last month of the quarter) was up 18% to $318 million.
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Source Fool.com
