Shares of Clarivate Plc (NYSE: CLVT) plummeted over 8% in pre-market trading on Monday after the company reported weaker-than-expected financial results for the third quarter of 2024 and withdrew its full-year guidance.
The data analytics company's revenue for the quarter fell 3.9% year-over-year to $622.2 million, missing Wall Street's estimates of $640.8 million. The decline was driven by lower transactional and other revenue across all three business segments - Academia & Government, Intellectual Property, and Life Sciences & Healthcare.
Adjusted earnings per share came in at $0.19, beating analyst expectations of $0.18 but down 9.5% from the prior year period. However, Clarivate reported a net loss of $65.6 million, compared to a net income of $12.3 million in the third quarter of 2023.
As a result of the recent CEO transition and ongoing work on a value creation plan, the company has withdrawn its previously issued guidance for 2024, citing the need to improve performance and drive profitable growth.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。