Following the announcement of third-quarter earnings by the experience management platform operator, Qualtrics stock ( NASDAQ:XM ) climbed about 11% in after-hours trading on Monday.
After the market closed on Monday, Qualtrics International ( NASDAQ:XM ), the pioneer and originator of the experience management (XM) category, revealed better-than-expected third-quarter 2022 earnings.
Market Analysis of Qualtrics Stock
In Monday’s after-hours trade, Qualtrics stock ( NASDAQ:XM ) rose 10.7%. The market’s favorable first response may be attributable to the quarter’s sales and profits above Wall Street’s consensus predictions, fourth-quarter guidance for both the top and bottom lines exceeding analysts’ expectations, and management upgrading its full-year revenue and earnings view.
Many investors are likely unfamiliar with the company Qualtrics. It had its initial public offering in January 2021 as a partial separation from German software giant SAP. SAP retained a majority share.
Subscription revenue increased by 43% to $314.8 million, driving revenue growth. According to the company’s results presentation, the number of clients paying more than $100,000 in yearly recurring revenue increased 32% year over year to 2,199.
The dollar-based net retention rate for Qualtrics’ subscription business was 124%, which is an excellent achievement. This indicates that current customers boosted their expenditure on the company’s products by 24% on average over the previous year.
On sales of $358.6 million, Wall Street expected an adjusted loss per share of $0.02. As a result, ...
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