ALYA - Why Alithya Group Stock Rocketed 7% Higher on Thursday
2023-06-08 17:45:00 ET
Thursday morning, Alithya Group (NASDAQ: ALYA) published its final set of quarterly earnings for fiscal 2023. Those figures showed several encouraging increases in key financial metrics, and as a result, grateful investors pushed into the stock. At the end of the day, Alithya's share price rose by more than 7% over the course of the day as a result.
For its fourth fiscal quarter, the Canada-based Alithya earned just over 136 million Canadian dollars ($102 million) in revenue, a tally that was nearly 14% higher on a year-over-year basis. Perhaps more encouragingly, over 80% of that came from clients doing business with the companay for more than a year.
Meanwhile, non-IFRS (adjusted) earnings before interest, taxes, depreciation, and amortization ( EBITDA ) zoomed even higher, rising at a 73% clip to CA$10.5 million ($7.8 million).
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Why Alithya Group Stock Rocketed 7% Higher on Thursday