Appian shares tumble 8.5% on earnings miss

Appian shares tumble 8.5% on earnings miss

Shares of Appian Corp. APPN, -9.21% were down 8.5% in extended trading Thursday following the business-tools company’s fiscal fourth-quarter results.

Appian reported a net loss of $6.4 million, or 9 cents a share, compared with a net loss of $10.8 million, or 16 cents a share, in the year-ago quarter. Revenue rose 19% to $81.6 million from $68.6 million a year ago. Analysts surveyed by FactSet had expected earnings of 13 cents a share on revenue of $79.8 million. Appian’s stock has skyrocketed 246% over the last 12 months. The broader S&P 500 index SPX, 0.29% has improved 16% in the last year.

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