Braze Shares Plunge 5% Despite Better Than Expected Q2 Results

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Braze Shares Plunge 5% Despite Better Than Expected Q2 Results
Credit: © Reuters.

By Davit Kirakosyan

Braze Inc (NASDAQ: BRZE ) shares fell more than 5% after-hours despite the company’s reported Q2 results , with EPS of ($0.16) coming in better than the consensus estimate of ($0.20).

Revenue grew 54.5% year-over-year to $86.1 million, compared to the consensus estimate of $81.16 million, driven primarily by new customers, upsells and renewals.

“Despite macroeconomic headwinds and the challenges they present, we remain confident in the durability of our business and the overall promise of our customer engagement platform and a massive addressable market,” said Bill Magnuson, cofounder and CEO of Braze.

The company expects Q3/23 EPS to be in the range of ($0.22)-($0.23), compared to the consensus of ($0.20), and revenue in the range of $90-91 million, compared to the consensus of $90.3 million.

For the full 2023-year, the company expects EPS in the range of ($0.77)-($0.79), compared to the consensus of ($0.80), and revenue in the range of $347-350 million, compared to the consensus of $346.83 million.

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