By Jon Swartz
PagerDuty Inc.’s stock vaulted 11% in extended trading Tuesday after the cloud-computing company reported fiscal third-quarter results that topped Street estimates.
PagerDuty (NYS:PD) reported a net loss of $26.3 million, or 31 cents a share, compared with a net loss of $20.6 million, or 26 cents a share, in the year-ago quarter. The adjusted net loss was 7 cents a share.
Revenue soared 33% to a record $71.8 million from $53.8 million a year ago. It was the second straight quarter in which PagerDuty sales improved more than 30% year-over-year.
“There are strong signals that we are sustaining high growth rate,” PagerDuty Chief Executive Jennifer Tejada told MarketWatch. “Our product innovation continues to accelerate across use cases and departments as we empower enterprises to mature their digital operations and deliver superior customer experiences.”
Analysts surveyed by FactSet had expected a net loss of 9 cents a share on revenue of $70.2 million.
The company also offered fourth-quarter guidance of $75.5 million to $76.5 million in revenue, representing a growth rate of 27% to 29% year-over-year and a net loss of 5 cents to 6 cents a share. FactSet analysts are projecting revenue of $73.7 million and a net loss of 8 cents a share.
Shares of PagerDuty are down 19.5% this year, while the broader S&P 500 index (S&P:SPX) has gained 25%.