RTTNews | Aug 18, 2021 12:07PM EDT

12:06 Wednesday, August 18, 2021 (RTTNews.com) - Shares of technology company ON24, Inc. (ONTF) are down 4 percent on Wednesday's trading despite there being no company announcement or industry news to influence the stock. The company recently posted a loss in the second quarter and its outlook for the third quarter and the full year also failed to meet estimates.

Net loss for the quarter was $2.5 million or $0.05 loss per share, compared to profit of $5.3 million or $0.14 earnings per share.

On an adjusted basis, the net income was $2.5 million or $0.04 earnings per share, dropped from $7.1 million or $0.69 earnings per share. Eight analysts polled by Thomson Reuters estimated breakeven per share for the quarter.

The revenue for the quarter increased 43 percent year-over-year to $52.1 million from $36.32 million. Analysts projected the earnings to be $51.03 million.

Currently at $19.80, the stock has traded between $19.30 and $81.98 during the past 52 weeks.

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