Why NerdWallet Stock Dropped Today
Shares of NerdWallet (NASDAQ: NRDS) fell 8.1% on Thursday, according to data provided by S&P Global Market Intelligence, after the personal finance company announced a wider-than-expected loss for the second quarter of 2023.
NerdWallet's results were technically mixed relative to expectations: Revenue climbed 14% year over year to $143.3 million, beating estimates calling for $137 million. But the company also posted a net loss of $0.14 per share for the quarter, badly missing most analysts' predictions for a loss of $0.03 per share.
NerdWallet co-founder and CEO Tim Chen noted that the "brand's resonance with consumers and SMBs helped to mitigate headwinds in lending and insurance."
Source Fool.com
