Amplitude Inc Cl A Down 10.09% To $10.03 After Earnings Beat

Amplitude Inc (AMPL) reported better than expected earnings this afternoon for Q3 2023.

Amplitude Inc Cl A's earnings came in at an EPS of $0.05 per share, 67.00% higher than estimates for an EPS of $0.03 per share. The firm's earnings are up 267% since reporting losses of $0.03 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Revenues were upbeat at $70.6 million. That is an increase of 14.64% in revenues from the year-ago report and is 0.85% higher than consensus estimates set at $70 million.

The stock is down 10.09% to $10.03 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Hold which may get revised based on this new data.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 36. Meanwhile, the average Wall Street analyst rated the stock a Hold.

Amplitude Inc is pioneering a new category of software called digital optimization. The company's digital optimization system serves as the command center for businesses to connect digital products to business outcomes.