DOMO - Domo plunges following third-quarter earnings results

Domo (NASDAQ:DOMO) shares are dropping nearly 16% to $56.14 after the Silicon Slopes, Utah-based company posted third-quarter results and gave fourth-quarter guidance. Domo (DOMO) said third-quarter revenue was up 21% year-over-year to $65.1 million, with the majority of that coming from subscriptions, at $56.6 million. Billings, a closely watched metric for software-as-a-service companies, came in at $70.2 million, up 26% year-over-year. Domo (DOMO) lost an adjusted 32 cents per share during the quarter. For the fourth-quarter, Domo (DOMO) said it expects revenue to be between $66.5 million and $67.5 million, with a non-GAAP loss between 37 cents and 41 cents per share. Full year revenue is expected to be between $254.5 million and $255.5 million, with an adjusted loss between $1.26 and $1.30 per share. Investment firm Cowen maintained its outperform rating on the stock, but lowered the price target to $100, down from $110 in wake of the results. The sharp decline in

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Domo plunges following third-quarter earnings results