ETWO - Why E2open Parent Holdings Stock Dived by 7% Today
2024-07-11 18:37:00 ET
Investors weren't particularly open to the idea of owning E2open Parent Holdings (NYSE: ETWO) stock on Wednesday. Following the release of its latest set of quarterly results, the specialty tech company saw its stock close down by almost 7% that day. That was a far steeper drop than that of the S&P 500 index, which dipped by less than 1%.
In its fiscal first quarter of 2025, E2open saw its revenue decline on a year-over-year basis. It fell to just over $151 million from 2024's Q1 tally of $160 million. The dynamic was similar with the company's non- GAAP (adjusted) net income; this came in at $13 million, or $0.04 against the year-ago profit of nearly $16 million.
Despite the drops, E2open met the average-analyst estimate for profitability. It fell short on the top line, however, as prognosticators tracking its fortunes were collectively expecting slightly over $155 million.
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Why E2open Parent Holdings Stock Dived by 7% Today