LegalZoom Stock Dives as Quarterly Earnings Fall Short of Expectations
Wednesday, 8 May 2024, 22:13
A Pair of Narrow Quarterly Misses
LegalZoom's first-quarter results showed a revenue increase of 5% year-over-year, driven by the growth in subscription services. However, the revenue figure fell slightly short of analyst estimates. Non-GAAP adjusted net income rose by 31% but was still lower than expected.
In-line Annual Revenue Guidance
LegalZoom provided guidance for the year 2024, expecting revenue growth while meeting the average analyst estimate. The company aims for a revenue range of $700 million to $720 million, reflecting modest growth from the previous year.
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