SEMrush Holdings, Inc. (SEMR) saw its stock price plummet by a staggering 21.40% during Thursday's intraday trading session, following the release of the company's quarterly earnings report for the period ended December 31.
According to the earnings summary, while SEMrush Holdings, Inc. reported a 23.1% year-over-year increase in revenue, reaching $102.64 million, it fell short of analysts' expectations on the bottom line. The company reported an adjusted earnings per share (EPS) of $0.07, meeting the consensus estimate of analysts. However, the reported EPS for the quarter was only $0.02, indicating a decline compared to the previous year's corresponding quarter when the company reported an EPS of $0.08.
The disappointing earnings results appear to be the primary factor behind the stock's significant plummet on Thursday. Investors and analysts closely monitor a company's earnings performance, as it provides insights into its financial health and growth prospects. The lower-than-expected earnings figures may have raised concerns about SEMrush Holdings, Inc.'s profitability and future growth potential, leading to a sell-off in the stock.
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