The HashiCorp earnings report starts with adjusted earnings per share of 3 cents. That’s better than the -4 cents per share that analysts were expecting. It’s also a strong improvement over its adjusted EPS of -13 cents from the same period of the year prior.
To go along with that, the company reported revenue of $146.1 million. That’s also above Wall Street’s estimate of $143.24 million. It’s also up 17% year-over-year from $125.3 million.
Navam Welihinda, CFO of HashiCorp, said the following in the earnings report:
“In Q3 of FY24, we achieved meaningful progress on our path to profitability, with our first quarter as a company with positive Non-GAAP EPS. I’m pleased with our performance in improving efficiency and increasing free cash flow, and we are seeing success from the steps we’re taking to realize further operating leverage in our business.”
What’s Happening With HCP Stock?
It’s unclear why HCP stock is falling on Friday even after it beat out earnings estimates for fiscal Q3. It’s also worth mentioning that it posted a strong outlook for fiscal Q4 2024, as well as for the fiscal full year.
Shares of HCP stock also aren’t seeing much trading today, with 524,000 units moving as of this writing. For comparison, its daily average trading volume is about 2 million shares. All of this has HCP stock down 22.1% as of Friday morning.
Investors looking for more of the most recent stock market stories are in the right place!
We have all of the hottest stock market news worth reading about on Friday! That includes everything happening with Exicure (NASDAQ:XCUR) and MBIA (NYSE:MBI) stock, as well as the biggest pre-market stock movers. All of that news is ready to go at the following links!
More Friday Stock Market News
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- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Friday
On the date of publication, William White did not have (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.