Blackbaud revised earnings and revenue estimates, lowering them and causing a 12.17% stock drop.

Blackbaud, Inc. (BLKB), a cloud computing service provider, has revised its annual outlook, projecting adjusted earnings per share between $3.98 and $4.16, down from $4.12 to $4.38. Revenue estimates have also decreased to between $1.150 billion and $1.160 billion, compared to the previous range of $1.164 billion to $1.194 billion. Following this announcement, the company's stock fell by 12.17% to $76.83 on the Nasdaq.

October 30, 2024
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