Why New Relic Stock Crashed Today

Timothy Green, The Motley Fool
·2-min read
Why New Relic Stock Crashed Today

Shares of New Relic (NYSE: NEWR) tumbled on Wednesday after the cloud software company reported its fiscal first-quarter results. While New Relic beat analyst expectations across the board, the stock was down 26% at noon EDT today. New Relic reported first-quarter revenue of $162.6 million, up 15.3% year over year and $3.65 million higher than the average analyst estimate.