SKIL - Why Skillsoft Stock Dropped 14.9% Today
Shares of Skillsoft (NYSE: SKIL) plummeted on Thursday, finishing the session at $2.29, down 14.9%. Meanwhile, the major indexes were up across the board for the second straight day, with the Dow Jones Industrial Average up 0.6%.
Skillsoft, an educational technology company that develops learning management system software and content, dropped following the release of its fiscal 2023 second-quarter report, and an analyst's subsequent downgrade.
Skillsoft reported its earnings on Wednesday afternoon, and the results were worse than expected. For the period that ended July 31, it generated $140.5 million in revenue. That was up 27% year over year, but well shy of analysts' consensus estimate of $184 million.
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Why Skillsoft Stock Dropped 14.9% Today