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July 29, 2021, 4:53 p.m. EDT

Zendesk stock drops as results fall short of Street view

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By Wallace Witkowski

Zendesk Inc.  shares fell in the extended session Thursday after the enterprise-software company’s quarterly results came up short against Wall Street expectations. Zendesk shares dropped 10% after hours, following a 0.2% decline in the regular session to close at $150.52. The company reported a second-quarter loss of $58.4 million, or 49 cents a share, compared with a loss of $64.7 million, or 56 cents a share, in the year-ago period. Adjusted earnings, which exclude share-based compensation expenses and other items, were 13 cents a share, compared with 14 cents a share in the year-ago period. Revenue rose to $318.2 million from $246.7 million in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of 16 cents a share on revenue of $320.4 million. For the third quarter, Zendesk expects revenue of $332 million to $337 million, while analysts had forecast revenue of $335.8 million.

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