Image Source: Zendesk.
Shares of software-as-a-service provider Zendesk (NYSE: ZEN) slumped on Wednesday following the company’s third-quarter report, despite revenue and earnings coming in ahead of analyst expectations. Guidance could be the culprit, with Zendesk predicting that revenue will rise by just 38% year over year during the fourth quarter. At 11:30 a.m. EDT, the stock was down about 10.5%.