PagerDuty Inc.’s stock initially inched higher in extended trading Thursday after the cloud-computing company reported quarterly results that breezed past analysts’ revenue and earnings estimates. Subsequently, they fell into negative territory.
“We continued to build on our momentum in the enterprise market. We helped companies manage critical work and the way they operate,” PagerDuty Chief Financial Officer Howard Wilson said in an interview.
PagerDuty
PD,
posted a fiscal second-quarter net loss of $22.6 million, or 26 cents a share, compared with a net loss of $38.6 million, or 44 cents a share, in the year-ago quarter. Adjusted earnings were 19 cents a share.
Revenue jumped 19% to $107.6 million from $90.25 million a year ago.
Analysts surveyed by FactSet had expected on average net income of 11 cents a share on revenue of $104.5 million.
The company provided fiscal third-quarter revenue guidance of between $106.5 million and $108.5 million. Analysts polled by FactSet are forecasting $107.3 million.
Shares of PagerDuty have slid 3% this year, while the broader S&P 500 index
SPX
has increased 17%.
