Why RealPage Stock Plunged Today

Shares of RealPage (NASDAQ: RP) have plunged today, down by 10% as of 12:30 p.m. EST, after the company reported third-quarter earnings and reduced its full-year sales outlook. The real estate software maker also said it would be acquiring peer Buildium.

Revenue in the third quarter increased 13% to $255.2 million, which led to adjusted net income of $42.6 million, or $0.45 per share. That bottom-line result was right on target with what analysts were expecting. Adjusted EBITDA jumped 22% to $72.1 million.

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Source Fool.com