Squarespace shares tumbled Tuesday morning after the company’s second-quarter earnings failed to meet Wall Street’s expectations.
The website design and hosting platform posted revenue of $247.5 million, above the consensus estimate of $243.3 million, but earnings of $0.03 per share were well below expectations of $0.21.
That compares to revenue of $212.7 million and earnings of $0.45 in the year-ago quarter.
Squarespace stock slid 5.4% Tuesday morning to $30.34.
Looking ahead, the company issued third-quarter revenue guidance of $250 million to $253 million, more than the analyst consensus of $245.6 million.
It projects fiscal 2023 revenue of $990 million to $1 billion, compared to Street expectations of $1.11 billion.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
Follow him on Twitter @andrew_kessel