Instructure Holdings (INST) Beats Q2 Earnings and Revenue Estimates

Core Viewpoint - Instructure Holdings (INST) reported quarterly earnings of $0.23 per share, exceeding the Zacks Consensus Estimate of $0.19 per share, and showing an increase from $0.19 per share a year ago, indicating a positive earnings surprise of 21.05% [1] Financial Performance - The company achieved revenues of $170.44 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 2.02%, and up from $131.07 million in the same quarter last year [2] - Over the last four quarters, Instructure has exceeded consensus EPS estimates three times and topped revenue estimates four times [2] Stock Performance - Instructure shares have declined approximately 13.5% since the beginning of the year, contrasting with the S&P 500's gain of 14.2% [3] - The current Zacks Rank for Instructure is 3 (Hold), indicating expected performance in line with the market in the near future [6] Earnings Outlook - The consensus EPS estimate for the upcoming quarter is $0.22 on revenues of $169.38 million, and for the current fiscal year, it is $0.85 on revenues of $662.52 million [7] - The trend of estimate revisions for Instructure is mixed, which may change following the recent earnings report [6] Industry Context - The Technology Services industry, to which Instructure belongs, is currently ranked in the top 36% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8] - GigaCloud Technology Inc. (GCT), another company in the same industry, is expected to report quarterly earnings of $0.71 per share, reflecting a year-over-year increase of 57.8%, with revenues anticipated to be $272.5 million, up 78% from the previous year [9][10]