BL - Why BlackLine Stock Rallied Friday Morning
2023-05-05 12:38:09 ET
Shares of BlackLine (NASDAQ: BL) charged sharply higher Friday, surging as much as 11.1%. As of 11:49 a.m. ET, the stock was still up 6.7%.
The catalyst that sent the cloud-based accounting and finance company higher was quarterly results that showed the sky was not falling.
For Q1, BlackLine reported revenue of $139 million, up 16% year over year, resulting in a loss per share of $0.20. The results were better when viewed on an non-GAAP (adjusted) basis, with earnings per share (EPS) of $0.34, up from $0.01 in the prior-year period.
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Why BlackLine Stock Rallied Friday Morning