- PagerDuty ( NYSE: PD ) shares gained around 8% pre-market on Friday in response to the firm's raised full-year forecast and better-than-expected second quarter results announced late Thursday.
- The application-software company now expects revenue in the range of $365M-$370M ( consensus : $367.98M) compared with prior outlook of $364M to $369M. Adj. loss is seen between -$0.10 and -$0.12 per share (consensus: -$0.12) vs. prior outlook of -$0.17 to -$0.21 loss/share.
- In Q2, the company generated adj. loss per share of -$0.04 on revenue of $90.25M (+33.6% Y/Y), both exceeding Wall Street estimates.
- However, billings of $92M (+23% Y/Y) fell short of the 25%-30% range provided during last quarter's call. The company attributed this drop to elongated sale cycles that reduced its initial expectations for bookings. Europe also experienced a bit more softness compared to other geographies.
- PagerDuty ( PD ) expects trailing 12 months billings growth exiting the third quarter to be at or above 20% over last year.
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PagerDuty stock gains on raised full-year forecast