Sam Boughedda

Investing.com — Amplitude Inc (NASDAQ:) shares fell 56% Thursday despite the company reporting earnings and revenue that topped analyst expectations.

This company was focused on the development of analytics products and provided revenue projections that were below what they expected.

Amplitude suffered a loss of $5 per share for revenue of $49.42million. Investing.com asked analysts to forecast a loss per share at 8 cents for revenue $46.96million.

According to the company, its first quarter loss per stock will be between 10 and 9 cents. The consensus loss per share is 12 cents. It also expects its first quarter revenue will be between $50m and $51m, as opposed to the consensus estimate of $51.3 million.

Amplitude’s total revenue for 2022 is expected to be between $226 Million and $234 Million, which again falls below consensus estimates of $235.9 millions.

Amplitude shares fell more than 50% in the wake of the forecast, TheFly reported. William Blair, an investor, stated that, even though the company’s recent commentary had shown a lower revenue, the sale-off was still an overreaction. He also suggested that investors should consider buying the opportunity.