Squarespace (SQSP) Misses Q2 Earnings Estimates

Core Insights - Squarespace reported quarterly earnings of $0.04 per share, missing the Zacks Consensus Estimate of $0.11 per share, representing an earnings surprise of -63.64% [1] - The company posted revenues of $296.77 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 1.29%, compared to year-ago revenues of $247.53 million [2] - The stock has gained approximately 33.5% since the beginning of the year, outperforming the S&P 500's gain of 14.2% [3] Earnings Outlook - The current consensus EPS estimate for the coming quarter is $0.14 on revenues of $305.1 million, and $0.44 on revenues of $1.2 billion for the current fiscal year [7] - The estimate revisions trend for Squarespace is mixed, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [6] Industry Context - The Internet - Software and Services industry is currently in the top 16% of over 250 Zacks industries, suggesting a favorable outlook for stocks within this sector [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]