PagerDuty (NYSE:PD) shares dropped more than 17% on Friday after the company reported Q1 earnings results. While EPS of $0.20 beat the estimates and revenue of $103.2 million was in line with expectations, the company’s outlook disappointed investors.

Q2/24 EPS is expected to be in the range of $0.10-$0.11, compared to the Street estimate of $0.09, and revenue in the range of $103.5-$105.5 million, compared to the Street estimate of $108.6 million.

For the full 2024 year, management sees EPS at $0.60-$0.65, compared to the Street’s $0.44, and revenue at $425-$430 million, compared to the Street’s $448.3 million.