Fair Isaac Corporation (FICO) shares dropped 28.8% following its latest quarterly earnings release.
The company reported fourth-quarter revenue of $512 million. This figure represents a 16.4% increase compared to the previous year. Quarterly revenue exceeded analyst expectations for the period.
However, management issued full-year revenue guidance that fell significantly short of market forecasts. Analysts identified the outlook as the weakest among peers in the data and business process services sector.
Investors sold off shares due to concerns regarding future growth prospects despite the recent revenue beat.