RTTNews | Nov 4, 2021 12:20PM EDT

12:19 Thursday, November 4, 2021 (RTTNews.com) - Shares of Rimini Street Inc. (RMNI) are tanking nearly 30% on Thursday morning after the company reported a wider loss for the third quarter despite increase in revenues.

RMNI is currently trading at $8.06, down $3.24 or 28.68%, on the Nasdaq, on a heavy volume of 4.5 million shares, above average volume of 0.5 million shares.

Third-quarter net loss was $6.7 million or $0.08 per share, wider than last year's loss of $3.1 million or $0.04 per share last year.

Revenues for the quarter increased 15.9% to $95.6 million from $82.5 million last year, with US revenues up 4.8% and international revenue up 31.4%.

Read the original article on RTTNews ( https://www.rttnews.com/3239654/rimini-street-stock-tanks-nearly-30-on-quarterly-results.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved