ServiceTitan (TTAN), a software platform for trade businesses, saw its stock plummet 5.07% in the pre-market session on Tuesday. This decline came after the company reported its fiscal third-quarter 2024 earnings, which revealed a wider net loss compared to the previous year.
The company posted a net loss of $1.74 per share for the quarter, larger than the $1.53 per share loss it reported in the same period a year ago. However, ServiceTitan's revenue grew by a solid 24% year-over-year to $199.3 million, surpassing analysts' expectations of $198.5 million.
Despite the revenue growth, investors appeared to be concerned about the company's widening losses. ServiceTitan's stock fell in the pre-market trading session, reflecting the market's reaction to its earnings report.
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