Sprinklr (NYSE:CXM) stock is falling hard on Thursday after the enterprise cloud software company released its earnings report for the first quarter of 2024.
The bad news comes from the company’s outlook in this latest earnings report. It expects revenue for Q2 2024 to range from $194 million to $195 million. That would mean it missed Wall Street’s revenue estimate of $196.8 million for the quarter.
Adding to that is its adjusted earnings per share estimate of 6 cents to 7 cents for the upcoming quarter. That’s also not looking good, as compared to analysts’ estimate of 9 cents for the period.
Spinklr’s full-year revenue outlook for 2024 comes in between $779 million and $781 million. That would be another miss next to Wall Street’s $805.09 million revenue estimate.
One positive in its guidance is adjusted EPS of 40 cents to 41 cents for the year. That’s above analysts’ adjusted EPS estimate of 38 cents for 2024.
CXM Stock Earnings Results
Investors will note that this poor outlook comes despite beats in Q1 2024. That includes the company’s adjusted EPS of 9 cents and revenue of $195.96 million. Both are above Wall Street’s estimates of 7 cents per share and $194.36 million for the quarter.
CXM stock is down 24% as of Thursday morning.
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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.
