Amplitude (AMPL) Reports Earnings Tomorrow: What To Expect

Max Juang /
2024/05/08 3:09 am EDT

Data analytics software provider Amplitude (NASDAQ:AMPL) will be announcing earnings results tomorrow after market close. Here's what investors should know.

Amplitude met analysts' revenue expectations last quarter, reporting revenues of $71.4 million, up 9.4% year on year. It was a weaker quarter for the company, with management forecasting growth to slow and a miss of analysts' billings estimates. It added 252 customers to reach a total of 2,723.

Is Amplitude a buy or sell going into earnings? Read our full analysis here, it's free.

This quarter, analysts are expecting Amplitude's revenue to grow 8.7% year on year to $72.25 million, slowing from the 25.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0 per share.

Amplitude Total Revenue

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Amplitude has only missed Wall Street's revenue estimates once over the last two years, exceeding top-line expectations by 2.3% on average.

Looking at Amplitude's peers in the data and analytics software segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Palantir delivered year-on-year revenue growth of 20.8%, beating analysts' expectations by 2.7%, and Confluent reported revenues up 24.6%, topping estimates by 2.5%. Palantir traded down 15.1% following the results.

Read our full analysis of Palantir's results here and Confluent's results here.

Inflation progressed towards the Fed's 2% goal at the end of 2023, leading to strong stock market performance. The start of 2024 has been a bumpier ride as the market switches between optimism and pessimism around rate cuts thanks to mixed inflation data, and while some of the data and analytics software stocks have fared somewhat better, they have not been spared, with share prices down 2.6% on average over the last month. Amplitude is down 5.2% during the same time and is heading into earnings with an average analyst price target of $12.1 (compared to the current share price of $10).

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