Why PagerDuty Stock Lost 6% Today

Shares of PagerDuty (NYSE: PD), the digital operations monitoring company, tumbled in early trading on Tuesday after the company announced a management reshuffle, a 7% reduction in workforce, and...a whole series of updates to its earnings estimates. The curious thing is that while PagerDuty did give us new numbers today, they didn't seem like really new new numbers, but rather like reiterations of guidance already given. Pro forma profits (non-GAAP accounting) will likewise still be $0.02 or $0.03 per share -- just as previously predicted.