Why Absolute Software Plummeted Today
Shares of Absolute Software (NASDAQ: ABST) were down about 17% as of 11:24 a.m. EDT today following the company's quarterly earnings release last night. The small-cap cybersecurity platform reported numbers that might be seen as solid in an absolute sense but came in well short of analyst expectations. In the quarter that ended in December, Absolute grew adjusted revenue by 9.1% over the prior year to $57.7 million, missing expectations by $1.64 million.