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.

Duolingo's Rapid Growth in 2023

Nasdaq Hits Record High

Leave A Reply

Your email address will not be published. Required fields are marked *

Related posts

Disney's Road to Recovery: What to Expect from the June Earnings Report
News

Disney's Road to Recovery: What to Expect from the June Earnings Report

Explore what investors can expect from Disney's June earnings report and learn about the challenges the company is curre...

Wise PLC Reports Strong Revenue Growth in Q1 FY2024
News

Wise PLC Reports Strong Revenue Growth in Q1 FY2024

Wise PLC reports a 29% rise in revenue in Q1 FY2024, with a significant increase in active customers and volumes. The co...

Overstock.com Rebrands as Bed Bath & Beyond
News

Overstock.com Rebrands as Bed Bath & Beyond

Overstock.com rebrands as Bed Bath & Beyond, combining their home furnishing items with Bed Bath & Beyond's offerings. T...

Canadian Building Permits Rise in October
News

Canadian Building Permits Rise in October

The Canadian building permit market showed signs of recovery in October, with a modest increase led by non-residential c...