Ping Identity (PING) reported strong F2Q20 results beating both on revenue and EPS. However, the company issued guidance that fell below consensus estimates. Revenue was $59.0 million versus the consensus estimate of $53.8 million. EPS was $0.08 versus the consensus of $0.02. Higher revenue and lower than expected Opex drove EPS upside. Ping issued lackluster guidance with the company guiding revenue in the range of $54-57 million with the midpoint $55.5 million, down 10% Y/Y versus prior consensus of $58.5 million. The following chart illustrates the F2Q20 financial highlights:
Source: Company Presentation
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