Why Sprout Social Shares Got Crushed Friday
Cloud software company Sprout Social (NASDAQ:SPT) saw shared fell 40% Friday after reporting first-quarter financial results Thursday.
What Happened: Sprout Social reported first-quarter revenue of $96.87 million, which missed a Street consensus estimate of $97.31 million, according to data from Benzinga Pro.
The company’s earnings per share of 10 cents beat a Street consensus estimate of 1 cent per share.
Shares of Sprout Social likely fell related to second-quarter guidance and commentary from the company.
The company is guiding for second-quarter revenue to come in a range of $98.5 million to $98.6 million.
“We underestimated the magnitude of enterprise seasonality that now comes with our business mix, while also self-inducing sales execution headwinds during Q1 that we …
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