MW SVMK stock falls 13% after weaker guidance
SVMK Inc. (SVMK) shares tanked 13% in the extended session Thursday after the parent company of SurveyMonkey reported a narrower-than-expected quarterly loss but its first-quarter sales guidance disappointed. SVMK said it lost $18.3 million, or 13 cents a share, in the fourth quarter, compared with a loss of 16 cents a share in the year-ago quarter. Revenue rose 20% to $101 million, the company said. Analysts polled by FactSet had expected a GAAP loss of 15 cents a share on sales of $101 million. For full-year 2021, the company guided for revenue between $436 million and $443 million, and said it expects first-quarter revenue between $99.5 million and $101.5 million. The analysts surveyed by FactSet expect first-quarter revenue around $105 million.
-Claudia Assis; 415-439-6400; AskNewswires@dowjones.com
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February 11, 2021 16:31 ET (21:31 GMT)
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