Asana's stock rises on revenue, earnings beat
Asana Inc.'s (ASAN) stock initially advanced 4.5% in extended trading Tuesday after the work-management platform provider reported quarterly results that topped analyst revenue and earnings estimates. Asana reported a fiscal second-quarter net loss of $71.4 million, or 33 cents a share, compared with a net loss of $112.9 million, or 59 cents a share, in the year-ago quarter. Adjusted earnings were a loss of 4 cents a share. Revenue jumped 20%, to $162.5 million from $134.9 million a year ago. Analysts surveyed by FactSet had expected on average a net loss of 11 cents a share on revenue of $157.9 million. Shares of Asana have soared 57% this year, while the broader S&P 500 index has increased 17%.
-Jon Swartz
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09-05-23 1614ET
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