OB - Why Outbrain's Stock Crashed on Thursday
Shares of online content-feed specialist Outbrain (NASDAQ: OB) tumbled on Thursday following a mixed earnings report. After falling steadily throughout the day, the stock closed 23.6% lower.
Outbrain's second-quarter sales increased by 2% year over year, landing at $250.9 million. The adjusted bottom line swung from earnings of $0.28 per share to a net loss of $0.19 per share. Your average analyst expected a smaller net loss of roughly $0.04 per share on revenue in the neighborhood of $247 million.
Management also slashed Outbrain's full-year profit outlook. The guidance provided three months ago pointed to 2022 adjusted earnings before interest, taxes, depreciation, and amortization ( EBITDA ) of approximately $55 million. The new EBITDA projection was set to "at least $18 million" instead.
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Why Outbrain's Stock Crashed on Thursday