Monday.com Shares Rise 10% on 2Q Results, Raised 2023 Outlook
By Denny Jacob
Monday.com shares rose 10% to $171.88 following second-quarter results and raised 2023 guidance.
The stock is up 39% on the year.
The software company narrowed its loss to about $7 million, or 15 cents a share, for the three months ended June 30, from $45.7 million, or $1.01 a share, a year earlier. Adjusted earnings were 41 cents a share.
Revenue rose 42% to $175.7 million from $123.7 million.
Monday.com forecast revenue between $181 million and $183 million for the third quarter. For 2023, the company guided for revenue in the range of $713 million and $717 million, up from its prior forecast between $702 million and $706 million.
Co-Chief Executive Roy Mann said the company launched its artificial intelligence assistant in the quarter and is excited about future opportunities with AI.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
August 14, 2023 10:53 ET (14:53 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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