Clarivate Third Quarter 2024 Earnings: Misses Expectations

Clarivate (NYSE:CLVT) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$622.2m (down 3.9% from 3Q 2023).
• Net loss: US$65.6m (loss widened by US$59.0m from 3Q 2023).
• US$0.091 loss per share (further deteriorated from US$0.01 loss in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Clarivate Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 2.9%. Earnings per share (EPS) also missed analyst estimates.

Looking ahead, revenue is forecast to grow 1.6% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Professional Services industry in the US.

Performance of the American Professional Services industry.

The company's shares are down 31% from a week ago.

Risk Analysis

You should always think about risks. Case in point, we've spotted 1 warning sign for Clarivate you should be aware of.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.