Why Nextdoor (KIND) Shares Are Getting Obliterated Today
Shares of neighborhood social network Nextdoor (NYSE:KIND) fell 5.5% in the morning session after the company reported third quarter results with revenue falling below Wall Street's estimates, driven by a miss in Total Weekly Active Users (WAU), a key measure of volumes. Adjusted EBITDA was in line. Management attributed the weak results to tough macroeconomic conditions and reduced advertiser budgets, especially affecting those in the home-related spending category since Q2 of 2022 and ongoing.
Source: yahoo.com