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Procore Technologies: Q2 Earnings Snapshot

August 3, 2022 GMT

CARPINTERIA, Calif. (AP) _ Procore Technologies Inc. (PCOR) on Wednesday reported a loss of $73.1 million in its second quarter.

On a per-share basis, the Carpinteria, California-based company said it had a loss of 54 cents. Losses, adjusted for stock option expense and amortization costs, were 19 cents per share.

The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 18 cents per share.

The construction management software posted revenue of $172.2 million in the period, beating Street forecasts. Seven analysts surveyed by Zacks expected $162 million.

For the current quarter ending in October, Procore Technologies said it expects revenue in the range of $174 million to $176 million.

The company expects full-year revenue in the range of $690 million to $694 million.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PCOR at https://www.zacks.com/ap/PCOR