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Why PagerDuty (PD) Plunged 25.8% on Thursday

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Shares of cloud computing company PagerDuty (PD - Free Report) crashed on Thursday. PD was down almost 28% in midday trading, though it managed to climb back a bit and close down 25.8%.

The company reported Q2 earnings yesterday after the bell. Revenue of $50.7 million fell short of expectations but adjusted earnings of a loss of $0.04 per share beat estimates. Investors were most disappointed by PagerDuty’s guidance. The SaaS stock anticipates a slowdown in revenue in Q3; its top-line will now only increase 22% to 24% to $53 million, below estimates of $53.7 million

PD jumped after Zoom Video’s (ZM - Free Report) blowout earnings report this week, so today’s steep sell-off is likely related to that earlier rise.

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