Clarivate Q1 Loss Widens, Reaffirms FY Guidance; Stock Up In Pre-market

(RTTNews) - Clarivate Plc (CLVT), a provider of transformative intelligence, on Tuesday announced that net loss widened in the first quarter compared to the previous year.

Shares of Clarivate are increasing around 9% in the pre-market trading.

For the first quarter, net loss widened 38.5% to $103.9 million from loss of $75 million in the previous year.

On a per share basis, loss was $0.15 versus loss of $0.14 last year.

On an adjusted basis, net income was $95.8 million, while adjusted earnings in the last year was $103.5 million. Adjusted earnings per share was in line with last year's $0.14.

Nine Analysts, on average, had expected the company to report $0.17 per share. Analysts' estimates typically exclude special items.

Revenue decreased 4.4 percent to $593.7 million from $621.2 million last year.

Looking ahead, the company reaffirmed the outlook for 2025.

For the full-year 2025, the company expects earnings and revenue to decline. Clarivate projects annual adjusted income per share of $0.60 to $0.70, on revenue of $2.28 to $2.40 billion.

For the full-year 2024, the company has recorded adjusted income per share of $0.73 on revenue of $2.556 billion.

In the pre-market trading, Clarivate is 9.75% higher at $3.94 on the New York Stock Exchange.