Business

PagerDuty Announces First Quarter $70 Million, Sends Stocks Soaring

Shares of PagerDuty Inc. rose 11% in extended trading Tuesday after the cloud computing company reported third-quarter financial results, topping Street estimates.

PagerDuty
PD,
+ 5.98%

reported a net loss of $26.3 million, or 31 cents a share, compared with a net loss of $20.6 million, or 26 cents a share, in the previous quarter. Adjusted net loss was 7 cents a share.

Revenue jumped 33% to a record $71.8 million from $53.8 million a year ago. It was the second consecutive quarter in which PagerDuty sales improved more than 30% year over year.

“There are strong signals that we are maintaining a high growth rate,” PagerDuty CEO Jennifer Tejada told MarketWatch. “Our product innovation continues to accelerate across use cases and departments as we empower businesses to perfect their digital operations and deliver customer experiences. outstanding”.

Analysts surveyed by FactSet had expected a net loss of 9 cents a share on revenue of $70.2 million.

The company also projected fourth-quarter revenue of $75.5 million to $76.5 million, representing a growth rate of 27% to 29% year-over-year and a net loss of 5 cents to 6 cents. cents per share. FactSet analysts are predicting revenue of $73.7 million and a net loss of 8 cents a share.

Shares of PagerDuty are down 19.5% this year, while the broader S&P 500 index
SPX,
+ 2.07%

has increased by 25%.

https://www.marketwatch.com/story/pagerduty-posts-its-first-70-million-quarter-sending-stock-soaring-11638911416?rss=1&siteid=rss PagerDuty Announces First Quarter $70 Million, Sends Stocks Soaring

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