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By Dhirendra Tripathi
Investing.com – WM Know-how inventory (NASDAQ:) fell greater than 21% Friday after the corporate disclosed disappointing July to September gross sales and revenue and an outlook for the present quarter.
Income rose 9% to round $51 million within the third quarter after what has been a sluggish 12 months for the hashish trade.
The software program supplier to the weed stakeholders grew its month-to-month lively customers by 1.6 million through the quarter to shut September at 13.9 million.
The corporate defines MAUs because the variety of distinctive customers opening its Weedmaps cell app or accessing its Weedmaps.com web site over the course of a calendar month.
Common month-to-month income per paying consumer rose 7%, to $3,817.
Revenue per share was 2 cents, half of what analysts anticipated.
The corporate now expects its current-quarter income to be $51 million at heart of the vary, similar as what it delivered in July by means of September. On the prime finish too, the goal just isn’t a lot increased at $52 million.
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