INTA - Why Intapp Stock Trounced the Market on Tuesday
Investors were sure tapped in to fintech solutions provider Intapp (NASDAQ: INTA) on Tuesday. After publishing its latest set of quarterly earnings after market hours on Monday that topped analyst estimates, those investors sent the company's stock a robust 18% higher the following day.
Intapp revealed that for its second quarter of fiscal 2023, it earned $84.7 million in total revenue, which was 31% higher on a year-over-year basis. Much of this comprised software-as-a-service (SaaS) and support revenue; together, these two categories brought in nearly $62 million, again a 31% increase.
On the bottom line, Intapp flipped to a non- GAAP (adjusted) net income of $2.2 million, or $0.03 per share. The second quarter of fiscal 2022 showed a loss of roughly $100,000.
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Why Intapp Stock Trounced the Market on Tuesday