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PagerDuty Inc.’s stock rose in extended trading Wednesday after the incident-management software provider reported record quarterly revenue.
For its fiscal fourth quarter, PagerDuty
PD,
racked up $101 million in sales, up 29% from $78.5 million in the year-ago period.
PagerDuty posted a net loss of $25 million, or 27 cents a share, compared with a net loss of $28.9 million, or 34 cents a share, in the year-ago quarter. Adjusted earnings were 8 cents a share. The company incurred $5 million in charges as a result of a 7% workforce reduction announced in January, according to a January filing with the Securities and Exchange Commission.
Analysts surveyed by FactSet had expected on average net earnings of 2 cents a share on revenue of $99.1 million.
“We’re in the right product market at a time of market efficiencies in a tough macro environment. Everybody wants to do more with less,” PagerDuty Chief Executive Jennifer Tejada said in an interview. She said customers who spent more than $100,000 grew 27% year-over-year.
The company offered first-quarter revenue guidance of between $102 million and $104 million; FactSet analysts are expecting $105 million.
The news initially sent shares of PagerDuty up nearly 4% in extended trading Wednesday.
Shares of PagerDuty have climbed 4.6% so far this year, while the broader S&P 500 index
SPX,
has advanced 1.4%.
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