Workiva Inc (NYSE:WK) stock was falling hard on Friday following the release of its earnings report for the fourth quarter of 2017.
Losses per share reported by Workiva Inc in the fourth quarter of the year came in at 19 cents. This is worse off than its losses per share of 9 cents from the same time last year. However, it did manage to beat out Wall Street’s losses per share estimate of 22 cents for the period.
Workiva Inc reported a net loss of $14.32 million for the fourth quarter of 2017. This is a wider than the enterprise software company’s net loss of $7.52 million that was reported in the same period of the year prior.
During the fourth quarter of the year, Workiva Inc reported revenue of $54.51 million. This is an increase over its revenue of $46.37 million that was reported in the fourth quarter of 2016. It also matched what analysts were expecting from the company for the quarter.
While Workiva Inc’s earnings for the quarter were mostly fine, its outlook for 2018 isn’t near a rosy. The company says that it is expecting losses per share for the year to range from 77 cents to 82 cents. This is well below Wall Street’s losses per share estimate of 47 cents for the year.
Workiva Inc is also expecting revenue for the full year of 2018 to range from $234.00 million to $236.00 million. This mostly lines up with analysts’ revenue estimate of $235.35 million for the year.
WK stock was down 19% as of noon Friday.
As of this writing, William White did not hold a position in any of the aforementioned securities.