LivePerson Shares Drop Following Wider-Than-Expected Loss in Fourth Quarter
The digital-customer-technology company LivePerson experienced a significant decline in its shares, dropping 41% to $1.42 after reporting a fourth-quarter loss that surpassed analysts' expectations.
Financial Performance
LivePerson's quarterly loss amounted to $40.5 million, or 48 cents per share, compared to the previous year's loss of $41.7 million, or 55 cents per share. Although analysts projected a loss of $24.6 million, or 31 cents per share. Revenue for the quarter totaled $95.5 million, falling short of both last year's $122.5 million and analysts' expected $94.4 million.
Market Response
The stock reached its lowest point of $1.40 within the session, marking an 86% decline over the past 12 months.
Future Projections
In light of current financial outcomes, LivePerson anticipates revenue figures between $300 million to $315 million for 2024. For the first quarter of the year, the company projects revenues ranging from $79 million to $83 million. Analysts have set higher expectations with projected revenues of $339.1 million for the full year and $85.6 million for the first quarter.
Despite securing 62 deals in the fourth quarter, which included contracts with 16 new customers and 46 existing ones, LivePerson faces challenges in meeting financial targets.
For more updates on LivePerson's performance in the coming months, stay tuned.
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