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Darktrace Share Price: Outlook Remains Positive on Raised Revenue Projections

The Darktrace share price retreated briefly this Friday, taking a break from ten days of gains that came about as the company raised its 2022 outlook. Friday’s correction is more of profit-taking after the stock gained 73.7% in the last two weeks. 

Darktrace announced an attributable profit for H1 2022 of $5.9m or $0.01 per share, compared with a loss of $48.4m or a loss per share of $0.10 it recorded in the same period a year earlier. This figure was better than expected, as analysts had predicted a loss per share of $11.4m (-$0.02 per share). Revenue jumped 53% from $126.5m to $192.6m, exceeding analysts’ expectations of $188.1m. 

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Darktrace has also provided positive forward guidance for 2022. It expects to boost its revenue on a year-on-year basis to the tune of 44.5% – 46.5%. This is an upgraded outlook from the previous one, which indicated a revenue growth of 42% to 44%. The Darktrace share price is down 5.02% on the day.

Eno Ikenna Eteng

Eno's work as a technical analyst and author since 2009 is well recognized in the industry and on several freelance platforms. He is also a member of the prestigious UK Society of Technical Analysts and a top-ranked participant in the Basic Investment Banking and Asset Management simulations with Amplify Trading.