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Markets · Investing · Business
Finance
Why Figma Stock Just Sank
Figma crushed its Q2 revenue and earnings targets, yet the stock cratered nearly 15%. The culprit? Soaring AI costs that are growing more than twice as fast as sales.
Figma, Inc.(NYSE: FIG) stock finished Thursday down 14.9%, while the S&P 500 was down 0.2% and the Nasdaq Composite was flat.
Shares of the design software company are falling after disappointing earnings, showing the cost of running its AI features is climbing much faster than revenue.
Details
Figma reported second-quarter results after the close on Wednesday. Revenue rose 48% year over year to just above $370 million. That beats the $351.5 million analysts were looking for. Adjusted earnings came in at $0.08 per share, twice the consensus estimate.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.
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