PagerDuty's stock drops on tepid guidance amid 'headwinds from small business'
By Jon Swartz
PagerDuty Inc.'s stock tumbled 9% in after-hours trading Thursday following quarterly results that slightly edged analyst estimates but offered tepid guidance.
"The quarter was characterized by strong momentum in the midmarket and enterprise," Howard Wilson, the cloud-computing company's chief financial officer, said in an interview. "We still see headwinds from small business, but our [annual recurring revenue] was 62% from customers using two or more of our products."
PagerDuty (PD) reported a fiscal fourth-quarter net loss of $28.8 million, or 33 cents a share, compared with a net loss of $25 million, or 27 cents a share, in the year-prior quarter. Adjusted earnings were 17 cents a share.
Revenue climbed 10% to $111.1 million, from $100.97 million in the year-prior quarter.
Analysts surveyed by FactSet had expected, on average, adjusted net income of 15 cents a share on revenue of $110.7 million.
PagerDuty provided first-quarter sales guidance of between $110.5 million and $112.5 million. FactSet analysts were forecasting $113.9 million.
Shares of PagerDuty have sunk 28% over the last 12 months. The broader S&P 500 index SPX is up 30% in that time.
-Jon Swartz
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
03-14-24 2008ET
Copyright (c) 2024 Dow Jones & Company, Inc.-
5 Things We Learned From the Q1 Earnings Season
-
After Earnings, Is Palantir Stock a Buy, a Sell, or Fairly Valued?
-
What’s Happening In the Markets This Week
-
Can the Fed Declare Victory on Inflation?
-
After Earnings, Is Coinbase Stock a Buy, a Sell, or Fairly Valued?
-
After Earnings, Is Albemarle Stock a Buy, a Sell, or Fairly Valued?
-
Is ServiceNow Stock a Buy After Earnings and Its Investor Day?
-
3 Stocks to Buy and 3 Stocks to Sell After Earnings
-
Today’s Market Volatility Could Provide Tomorrow’s Opportunities
-
40 of the Best Investment Picks
-
Tech Stock Dividends Are Changing the Face of Dividend Growth Investing
-
Roblox Earnings: Weakening Engagement Has Weighed On Growth
-
The Best Gaming Stocks to Buy
-
Energy Transfer Earnings: M&A Drives Guidance Increase In Solid Quarter
-
The Best Healthcare Stocks to Buy
-
Going Into Earnings, Is Home Depot Stock a Buy, a Sell, or Fairly Valued?