Intapp, Inc. (INTA) shares plummeted 5.21% in after-hours trading on Tuesday, despite reporting better-than-expected third-quarter earnings. The software company's stock decline comes as a surprise, given its strong financial performance for the quarter ended March 31.
Intapp reported adjusted earnings per share of $0.26, surpassing the analysts' estimate of $0.22. The company's adjusted net income reached $21.7 million, significantly higher than the expected $18.6 million. Revenue also showed robust growth, increasing by 16.7% to $129.07 million, slightly above the consensus forecast of $128.79 million.
However, investors seem to be focusing on Intapp's full-year outlook, which may have fallen short of expectations. The company projects full-year adjusted earnings per share between $0.88 and $0.90, with adjusted operating profit expected to range from $74.3 million to $75.3 million. This guidance, while positive, might not have been as strong as some investors had hoped, potentially explaining the after-hours sell-off. Additionally, the stock's year-to-date decline of 10% prior to this earnings release suggests ongoing investor concerns about the company's growth trajectory in a challenging macroeconomic environment.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.