Samsara Stock Tumbles After a Beat-And-Raise Quarter. Here's Why

Samsara stock is trading lower Friday even after the cloud company disclosed higher-than-expected earnings and raised its full-year outlook.

Samsara logo displayed on smartphone
(Image credit: Mateusz Slodkowski/SOPA Images/LightRocket via Getty Images)

Samsara (IOT) stock plunged 14% out of the gate Friday even after cloud company beat analysts' top- and bottom-line expectations for its fiscal first quarter and raised its full-year outlook.

In the three months ended May 4, Samsara saw its revenue increase 37.4% year-over-year to $280.7 million, while its ending annual recurring revenue (ARR) jumped 37.3% to reach $1.2 billion. Earnings came in at 3 cents per share, up from a loss of 2 cents per share in the year-ago period.

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Joey Solitro

Joey Solitro is a freelance financial journalist at Kiplinger with more than a decade of experience. A longtime equity analyst, Joey has covered a range of industries for media outlets including The Motley Fool, Seeking Alpha, Market Realist, and TipRanks. Joey holds a bachelor's degree in business administration.