Why Domo Shares Are Down 10% After Hours

Domo Inc DOMO shares are trading lower in after hours Thursday. The company reported weak second-quarter revenue results and issued top-line guidance below analyst estimates.

Domo said fiscal second-quarter revenue jumped 20% year-over-year to $75.5 million, which missed average analyst estimates of $76.39 million, according to Benzinga Pro. Subscription revenues totaled $67.4 million and billings reached $72.3 million.

Domo reported a second-quarter net loss of 26 cents per share, which beat average analyst estimates for a loss of 33 cents per share.

"We continue to optimize for long-term, sustainable growth, as we deliver speed-to-value to line-of-business decision makers and support our customers' success," said John Mellor, CEO of Domo.

Domo expects third-quarter revenue to be between $76 million and $77 million versus the estimate of $79.81 million. The company expects a third-quarter net loss between 23 cents and 27 cents per share versus the estimate for a net loss of 34 cents per share.

Domo expects full-year revenue to be between $305 million and $310 million versus the estimate of $315.69 million. The company expects a full-year net loss between 88 cents and 96 cents per share versus the estimate for a loss of $1.29 per share. 

See Also: Sumo Logic Q2 Results Exceed Street Expectations

DOMO Price Action: Domo has a 52-week high of $57.41 and a 52-week low of $23.01.

The stock was down 9.94% in after hours at $25.82 at press time.

Photo: Lorenzo Cafaro from Pixabay.