AYX - Alteryx plunges nearly 30% after weak Q3 forecast

August, 07 2023 04:32 PM Alteryx Inc. Class A

2023-08-07 16:32:18 ET

Computer software maker Alteryx ( NYSE: AYX ) plunged nearly 30% in extended-hours trading on Monday after it issued a forecast for the third-quarter that was well below estimates.
Looking ahead, Alteryx ( AYX ) said it expects revenue in the third-quarter to be between $208M and $212M, down between 2% and 4%, well below the $233.03M consensus estimate.
It also expects full-year sales to miss estimates, rising between 9% and 10% year-over-year to fall within a range between $930M and $940M, with adjusted earnings between 62 and 72 cents per share.
Analysts were expecting full-year sales to come in at $984M, while adjusted earnings are forecast to be at 68 cents per share.
For the second-quarter, Alteryx ( AYX ) generated an adjusted loss of 37 cents per share on $188M in sales, topping the 67 cent-per-share loss and $182M in revenue that analysts were forecasting.
Irvine, California-based Alteryx ( AYX ) is slated to host a conference call at 5 p.m. EST to discuss the results.

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