Informatica Stock Plunges on Weaker-Than-Expected Revenue, Outlook | Global News Avenue

Informatica(die) On Friday, after cloud data and management platforms reported fourth-quarter revenue, stocks missed analyst estimates and offered weak prospects as demand fell.

The company reported its fourth quarter income It fell 3.8% year-on-year to $428.3 million, which is visible to analysts’ forecasts by Alpha compiled. It fell further, down 4.1%. Adjustment Earnings per share (EPS) 41 cents exceeded expectations.

In addition to the enhanced dollar impact, Informatica blames the lower revenue from the lower upfront self-managed subscription licensing revenue, which is due to lower renewal rates for self-managed subscriptions, lower average duration of self-managed subscription renewals, and further “ Further ” professional services decline. ”

Informatica said it expects current quarterly revenue to be between $380 million and $400 million, while analysts surveyed by Alpha are looking for nearly $413 million.

Informatica shares fell more than 30% in early Friday trading, losing half of its value in the past 12 months.