Why LegalZoom Stock Is Falling After Hours

LegalZoom.com Inc LZ shares are trading lower in Thursday's after-hours session after the company reported financial results and cut guidance below analyst estimates.

LegalZoom said second-quarter revenue increased 9% year-over-year to $163.9 million, which beat the estimate of $161.6 million, according to Benzinga Pro. The company reported quarterly adjusted earnings of 5 cents per share, which beat the estimate of 2 cents per share.

"We had a strong first half of 2022, highlighted by subscription revenue growth of more than 30%. However, we are anticipating a tougher operating environment in the back half of the year and are lowering our revenue expectations accordingly," said Noel Watson, CFO of LegalZoom.

LegalZoom expects third-quarter revenue to be between $149 million and $151 million versus the estimate of $171.21 million. The company cut its full-year revenue guidance from a range of $650 million to $660 million to a range of $612 million to $616 million versus the estimate of $653.17 million.

LZ Price Action: LegalZoom has a 52-week high of $17.36 and a 52-week low of $8.64.

The stock was down 6.37% in after-hours at $10.29 at press time.

Photo: NomeVisualizzato from Pixabay.

Market News and Data brought to you by Benzinga APIs
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceAfter-Hours CenterMoversTrading IdeasMaterialsSpecialty Chemicalswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...