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Why Blue Prism shares had their biggest daily drop ever

The software company’s value dropped by a quarter on the day of its 2020 results
Why Blue Prism shares had their biggest daily drop ever

At first sight, it may seem surprising that the market hacked off a quarter of a software company’s value on the same day that it posted a 46 per cent sales increase in FY2020. But underlying concerns at Blue Prism (PRSM) meant that investors were quickly spooked by new challenges brought on by the pandemic, as well as a conspicuous restatement of the headline figures for the prior year. The revised numbers revealed weaker revenues and deeper losses than initially stated, although today’s update showed that the robotic process automation (RPA) company managed to narrow its operating loss from £91.8m to £81.6m year on year. 

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