Cardlytics (NASDAQ:CDLX) stock is falling on Thursday after the advertising platform operator released its earnings report for the first quarter of 2024.
That earnings report starts with revenue of $67.61 million for the quarter. This fails to reach Wall Street’s estimate of $71.69 million in revenue. However, it’s a 5.1% increase year-over-year from $64.33 million.
Next, we have the company’s adjusted EPS of -9 cents. That’s better than the -11 cents per share that analysts were expecting. Even so, it’s an improvement compared to the -25 cents per share reported in the first quarter of 2023.
Cardlytics CEO Karim Temsamani said the following in the earnings report:
“Our results in the first quarter reflect the progress we have made at delivering more value to both consumers and our advertising partners. We are driving deeper engagement in the form of higher redemptions, demonstrating that our investments are working, and signaling the potential for higher billings growth in the future.”
Q2 Guidance Hits CDLX Stock
Unfortunately, Cardlytics’ revenue guidance for the second quarter of the year fails to impress investors. It’s expecting revenue for the quarter to range from $73 million to $81 million. That would see it missing Wall Street’s revenue estimate of $81.39 million for the period.
CDLX stock is down 28.8% as of Thursday morning. However, shares were up 64% year-to-date when markets closed yesterday.
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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.
