FX.co ★ Clarivate Posts Loss In Q1; Reaffirms FY24 Outlook

Clarivate Plc (CLVT) reported a net loss of $93.8 million attributable to ordinary shares for the first quarter. This is a significant change from the net income of $24.7 million recorded during the same period last year. The per-share net loss stood at $0.14, compared to last year's net income of $0.04 per share.

In terms of adjusted net income, Clarivate recorded $103.5 million, marking a 20.9% decrease from last year. The adjusted earnings per share (EPS) was $0.14, a 22.2% drop. According to a poll conducted by Thomson Reuters, the average expectation of ten analysts was a profit per share of $0.14.

The revenues stood at $621.2 million, reflecting a 1.3% drop from the previous year. The figures also showed a 1.7% decrease in organic revenues for the quarter. These results slightly exceeded analysts' average revenue estimation of $614.86 million.

Despite these results, Clarivate has maintained its financial outlook for 2024.