Confluent (NASDAQ:CFLT) stock is falling on Thursday after the company provided investors with a guidance update in its latest earnings report.
The bad news for CFLT stock investors starts with its outlook for the fourth quarter of 2023. The company expects adjusted EPS of 5 cents alongside revenue of between $204 million and $205 million. That would be mixed results next to Wall Street’s estimates of 5 cents per share and revenue of $212.6 million.
Confluent also provides guidance for the full year of 2023 in its latest earnings report. It expects revenue for the year to range from $768 million to $769 million. Even at the high end of that outlook, Confluent is set to miss analysts’ 2023 revenue estimate of $771.62 million.
CFLT Earnings Can’t Save the Stock Today
That weak guidance comes despite the company posting a strong earnings report for the third quarter of the year. That includes the first time it’s adjusted EPS has come in positive.
Those results include adjusted EPS of 2 cents alongside revenue of $200.2 million. These figures came in above Wall Street’s estimates of -1 cent per share and revenue of $195.17 million.
CFLT stock is down 34.9% as of Thursday morning but was up 31.9% year-to-date (YTD) when markets closed yesterday.
Investors looking for more of the most recent stock market news for today are in the right place!
InvestorPlace is offering up all of the latest insight into the top stock market stories on Thursday! A few examples include why shares of EnGene (NASDAQ:ENGN) and OmniLit Acquisition (NASDAQ:OLIT) stock are rising, as well as a look at the biggest pre-market stock movers this morning. You can find all of these topics covered down below!
More Thursday Stock Market News
- Why Is EnGene (ENGN) Stock Up 8% Today?
- Why Is OmniLit Acquisition (OLIT) Stock Up 61% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
