Why LiveRamp Stock Plummeted Today

Shares of LiveRamp Holdings (NYSE: RAMP) plummeted as much as 11% today after the company reported fiscal third-quarter earnings. The results beat expectations, so it's unclear why investors were disappointed. As of 1:15 p.m. EST, the stock had somewhat recovered and was down 7%.

Revenue in the fiscal third quarter came in at $120 million, ahead of the $113.1 million in sales analysts were modeling for. That resulted in adjusted earnings per share of $0.14, compared to the consensus estimate of $0.07 per share in adjusted profits. The technology company, which operates an enterprise data connectivity platform, said subscription revenue comprised 78% of total sales. Remaining performance obligations (RPO), which should be recognized within the next year as revenue, totaled $231 million at the end of the quarter.

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Source Fool.com