Procore Technologies Second Quarter 2024 Earnings: Beats Expectations

Procore Technologies (NYSE:PCOR) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$284.3m (up 24% from Q2 2023).

• Net loss: US$6.31m (loss narrowed by 88% from Q2 2023).

• US$0.043 loss per share (improved from US$0.37 loss in Q2 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Procore Technologies Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 3.3%. Earnings per share (EPS) also surpassed analyst estimates by 63%.

Looking ahead, revenue is forecast to grow 14% pa on average during the next 3 years, compared to a 12% growth forecast for the Software industry in the US.

Performance of the American Software industry.

The company’s shares are down 19% from a week ago.

Risk Analysis

Before you take the next step you should know about the 3 warning signs for Procore Technologies that we have discovered.

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