Skillsoft falls on downbeat revenue outlook

Skillsoft

07/09/2022 23:22

** Shares of Skillsoft Corp  SKIL.N  down 11.2% at $2.39
after the bell 
    ** Lowers FY 2023 adj revenue outlook to range of $545 mln -
$580 mln vs prior outlook of $765 mln to $790 mln  urn:newsml:reuters.com:*:nBw35WGDba 
    ** Analysts expect FY 2023 revenue of $752.7 mln - Refinitiv
data 
    ** SKIL lowers FY 2023 bookings outlook to $580 mln - $615
mln vs previous outlook of $790 mln - $825 mln 
    ** Says it is revising outlook to reflect the sale of
SumTotal, foreign exchange impact, lower fundamentals and some
macroeconomic uncertainty
    ** Co's Q2 revenue rises 27% to $140.6 mln, lower than
analysts' expectation of $182.5 mln 
    ** As of last close, SKIL down 70.6% YTD

 (Reporting by Vansh Agarwal)
 ((Vansh.Agarwal@thomsonreuters.com;))