CFLT - Why Confluent Stock Plummeted 34.6% in February
Shares of Confluent (NASDAQ: CFLT) sank 34.6% in February, according to data from S&P Global Market Intelligence . The data-services company published its fourth-quarter earnings results on Feb. 10, and its stock lost substantial ground following the release despite sales and earnings arriving ahead of the market's expectations.
Confluent posted a non-GAAP (adjusted) loss per share of $0.19 on revenue of $119.9 million in the fourth quarter, which was significantly better than the average analyst estimate of an adjusted loss per share of $0.21 on sales of $109.8 million. Despite a loss that was significantly lower than anticipated and revenue climbing 71% year over year to deliver a big topline beat, the company's guidance appears to have spooked investors.
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Why Confluent Stock Plummeted 34.6% in February