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Investing.com — Amplitude Inc (NASDAQ:AMPL) shares fell 56% Thursday despite the company reporting earnings and revenue that topped analyst expectations.
The company, focused on analytics products, provided a revenue forecast that came in below expectations.
Amplitude reported a loss per share of 5 cents on revenue of $49.42 million. Analysts polled by Investing.com expected a loss per share of 8 cents on revenue of $46.96 million.
The company expects first quarter loss per share to be between 10 cents and 9 cents, while the consensus is a loss per share of 12 cents. Furthermore, it expects first quarter revenue to be between $50 million to $51 million, compared with the consensus of $51.3 million.
In addition, Amplitude sees full-year 2022 revenue between $226 million and $234 million, again below the consensus estimates of $235.9 million.
Despite the forecast causing Amplitude shares to more than half in value, according to TheFly, William Blair told investors in a note that despite the company guiding revenue below recent commentary, the sell-off is an overreaction and a buying opportunity.