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Why is Thoughtworks Holding Inc (TWKS) Stock down?

08 Aug, 2023:

Thoughtworks Holding's shares fell 25.78% after disappointing Q2 results and reduced Q3 guidance. Q2 adjusted earnings of 3 cents per share and a 13.5% revenue drop to $287.2M missed expectations. The company also lowered its full-year adjusted EPS guidance to 11-13 cents and revenue projection to $1.14-1.16B.

https://www.marketwatch.com/story/thoughtworks-shares-hit-new-lows-after-disappointing-quarterly-update-twks-6998f727

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