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May 14, 2020, 5:31 p.m. EDT

New Relic stock jumps 16% after company tops fiscal Q4 views

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By Claudia Assis

NEWR

New Relic Inc. /zigman2/quotes/202610309/composite NEWR -0.47% stock rallied more than 16% in the extended session Thursday after the cloud software company reported better-than-expected adjusted fiscal fourth-quarter earnings and sales. New Relic said it lost $27.9 million, or 47 cents a share, in the quarter, compared with $16.8 million, or 30 cents a share, in the fourth quarter of fiscal 2019. Adjusted for one-time items, the company earned $8.4 million, or 14 cents a share, in the quarter, compared with $7.5 million, or 13 cents a share, a year ago. Revenue rose to $160 million, compared with $132 million a year ago. Analysts polled by FactSet expected adjusted profit of 3 cents a share on sales of $154 million. The company said it ended the quarter with cash and cash equivalents around $805 million. New Relic said it expects fiscal 2021 first-quarter revenue between $158 million and $160 million, and adjusted per-share results between a loss of 1 cent and earnings of 4 cents. Customers have prioritized "digital, the cloud, and operational resiliency, and we are committed to helping them meet their goals with the strongest product lineup in our company's history," Chief Executive Lew Cirne said in a statement. Cirne did not specifically address the impact of the coronavirus pandemic on the business but did "acknowledge how difficult COVID-19 has been for everyone, and I'd like to recognize the extraordinary resiliency we've seen from our customers and our employees as we come together and rise to the challenge."

/zigman2/quotes/202610309/composite
US : U.S.: NYSE
$ 74.39
-0.35 -0.47%
Volume: 10,013
Oct. 20, 2021 9:48a
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$4.75 billion
Rev. per Employee
$307,956
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