It’s a total bloodbath in the world of tech stocks.
After Twitter closed down a whopping 17.8% today, Zulily and TripAdvisor are crashing after announcing first-quarter financial results.
Zulily — the deals website for mums — just reported a Q1 net loss of $US0.02 per share. Analysts were looking for a breakeven quarter. The stock is down a whopping 19% in after-hours trading.
It’s worth noting that Q1 sales were up 87% year-over-year with active customers jumping 93% during the period. But with high-flying stocks like this, it’s all about expectations.
Here’s the Zulily chart from MarketWatch:
TripAdvisor — the online travel-research site — just announced Q1 earnings of $US0.54 per share, which is in line with expectations. But revenue was light coming in at $US281 million versus the expectation for $US283 million.
The company also announced that it would be acquiring lafourchette, an online restaurant-booking site in Europe.
The stock is down 17%.
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