Massive Sell-Off: 10 Stocks in a Bloodbath

2. Confluent, Inc. (NASDAQ:CFLT)

Confluent fell for a fourth consecutive day on Thursday, to touch a new low of $17.51 apiece, as investor sentiment was dampened by its lower-than-expected revenue for the second quarter of the year.

During the period, Confluent, Inc. (NASDAQ:CFLT) grew its total revenues by 20 percent to $282 million from $235 million in the same period last year, as subscription revenues increased by 21 percent to $270.8 million from $224.7 million. However, total revenues missed analysts’ consensus forecast by 2.69 percent.

In the same period, net loss also narrowed by 8.8 percent to $81.95 million from $89.9 million year-on-year.

In the first half, net loss shrank by 18.6 percent to $149.5 million from $183 million year-on-year, as total revenues grew 22 percent to $553 million from $452 million.

Looking ahead, Confluent, Inc. (NASDAQ:CFLT) expects subscription revenues to end between $281-$282 million, and to a range of $1.105 billion to $1.11 billion in the full-year period.

Earnings per share were also pegged at $0.09-$0.10 in the third quarter and at around $0.36 in the full year.