MARKETS

Cardlytics shares plunge 23% on Q2 results

Shares of Cardlytics Inc.
CDLX,
-6.77%
were clobbered in extended trading Tuesday, plunging 23% after the digital-advertising platform reported fiscal second-quarter results. Cardlytics reported a net loss of $47.3 million, or $1.43 a share, compared with a net loss of $19.8 million, or 73 cents a share, in the year-ago quarter. The company’s adjusted net loss was $12.8 million, or 39 cents a share. Revenue jumped 109% to $58.9 million from $28.2 million a year ago. Analysts surveyed by FactSet had expected a net loss of 65 cents a share on revenue of $62.9 million. Cardlytics’ shares are down 18% so far in 2021. The broader S&P 500 index
SPX,
+0.82%
has gained 18% this year.

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