Stock Track | Procore Technologies Soars 9.19% in After-Hours on Upbeat Revenue Outlook
Procore Technologies (PCOR) saw its stock soar 9.19% in the after-hours trading session on Thursday following its fourth-quarter earnings report. The company reported a slight decline in adjusted earnings per share to $0.01, missing analyst estimates. However, the construction management software provider's revenue rose to $302 million, surpassing expectations.
The bigger catalyst for the stock's surge was Procore's optimistic revenue guidance for the upcoming quarters. The company projected first-quarter revenue of $301 million to $303 million, exceeding analyst forecasts. Additionally, Procore issued a strong full-year 2025 revenue outlook of $1.285 billion to $1.290 billion, surpassing analyst expectations of $1.278 billion.
Investors seem to be focusing on Procore's promising revenue growth trajectory, shrugging off the earnings miss. The company's ability to maintain robust revenue growth amid a challenging economic environment appears to have boosted confidence in its long-term prospects, driving the after-hours stock rally.
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