Zeta Global Holdings Corp. (NYSE: ZETA) saw its shares plummet 6.23% in after-hours trading on Thursday, despite reporting better-than-expected first-quarter earnings. The company's strong performance was overshadowed by concerns about its future outlook, prompting a sell-off among investors.
Zeta Global reported quarterly earnings of $0.21 per share, significantly beating the analyst consensus estimate of $0.11 by 90.91%. This represents a substantial 200% increase from the $0.07 per share reported in the same period last year. The company's quarterly sales also impressed, coming in at $264.42 million, surpassing the analyst consensus estimate of $254.19 million by 4.02%. This marks a 35.64% increase over sales of $194.95 million from the same period last year.
Despite these positive results, investors seemed to focus on other aspects of the report. The company reported a net loss of $22 million for the quarter, which may have contributed to the negative sentiment. Additionally, while Zeta Global provided guidance for Q2 and full-year revenue and adjusted EBITDA, the market's reaction suggests that these projections may not have met investor expectations. The after-hours drop indicates that market participants are reassessing the company's growth trajectory and profitability potential in light of the full earnings report.
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