Zendesk shares drop 7% on earnings miss, withdrawal of 2020 guidance

Zendesk Inc. ZEN, +1.33% shares plunged as much as 7% in after-hours trading Thursday after the software company reported fiscal first-quarter earnings that missed Wall Street estimates, and it withdrew full-year 2020 guidance because of uncertainty surrounding the coronavirus pandemic. Zendesk reported a loss of $42.8 million, or 38 cents a share. Revenue climbed to $237.5 million from $181.5 million a year ago. Analysts surveyed by FactSet had expected earnings of 6 cents a share on sales of $237 million. Zendesk shares are down 8% in the last year. The broader S&P 500 index SPX, -0.92% is down 0.2% in the last year.

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