Why Matterport Stock Plunged Today
MTTRMatterport(MTTR) The Motley Fool·2024-02-22 09:15

Shares of Matterport (MTTR -16.93%) fell 17.3% on Wednesday after the spatial data platform company announced weaker-than-expected quarterly revenue and a disappointing forward outlook. Matterport's decent quarter left the market underwhelmed Matterport's fourth-quarter 2023 revenue declined 3.9% year over year to 39.5million,technicallywithin(butbelowthemidpointof)itsguidanceforarangeof39.5 million, technically within (but below the midpoint of) its guidance for a range of 39 million to 41million.Mostanalystsweremodelingrevenueofexactly41 million. Most analysts were modeling revenue of exactly 40 million. On the bottom line ...