Qualtrics International (NASDAQ: XM) , the leader and creator of the experience management (XM) category, reported strong results for the third quarter of 2021 after the market close on Wednesday.
Shares surged 7.4% in Wednesday's after-hours trading. That pop is probably attributable to both revenue and earnings beating Wall Street's consensus estimates and management increasing full-year guidance on the top and bottom lines.
Through Wednesday's regular trading session, Qualtrics stock is up 44% since its initial public offering in late January, though nearly the entire gain came on IPO day, as the stock opened much higher that day than its IPO price. The S&P 500 index has returned 18.9% over this period. The IPO was a partial spinoff from German software giant SAP (NYSE: SAP) , which maintained a controlling stake.
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Qualtrics Stock Jumps on Earnings Beat and Guidance Raise