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Feb. 25, 2021, 8:22 a.m. EST

SolarWinds stock rallies after profit, revenue rise above expectations

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By Tomi Kilgore

Shares of SolarWinds Corp. /zigman2/quotes/208088323/composite SWI +2.09% rallied 2.9% in premarket trading Thursday, after the network-management software company, which was a victim by a massive hacking campaign in December, reported fourth-quarter profit and revenue that rose above expectations, but provided a downbeat first-quarter outlook. Net income rose to $132.0 million, or 42 cents a share, from $13.1 million, or 4 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share increased to 26 cents from 24 cents, topping the FactSet consensus of 25 cents. Total revenue grew 7.2% to $265.3 million, beating the FactSet consensus of $259.5 million, as both subscription and maintenance revenue rose above forecasts. For the first quarter, the company expects adjusted EPS of 19 cents to 20 cents, below the current FactSet consensus of 22 cents. "The sophisticated cyberattack on us and our customers at the end of the fourth quarter has taught us a great deal about the resiliency of our business, the commitment of our employees, and the support we can expect from our customers and partners," said Chief Executive Sudhakar Ramakrishna. The stock has tumbled 30.1% over the past three months through Wednesday, while the SPDR S&P Software & Services ETF /zigman2/quotes/203260274/composite XSW +1.57% has rallied 21.6% and the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.33% has gained 8.2%.

/zigman2/quotes/208088323/composite
US : U.S.: NYSE
$ 18.05
+0.37 +2.09%
Volume: 807,679
April 13, 2021 4:00p
P/E Ratio
36.35
Dividend Yield
N/A
Market Cap
$5.53 billion
Rev. per Employee
$305,162
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/zigman2/quotes/203260274/composite
US : U.S.: NYSE Arca
$ 165.97
+2.56 +1.57%
Volume: 719,168
April 13, 2021 4:10p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,141.59
+13.60 +0.33%
Volume: 2.06B
April 13, 2021 5:15p
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