Shares of software company Sprinklr (NYSE: CXM) closed Friday's trading session 11.3% higher. Earlier in the day, the stock peaked with a gain of 21%. The day's upward surge was powered by the company's impressive fiscal third-quarter earnings report.
For the period, which ended Oct. 31, Sprinklr's sales rose 32% year over year to $127 million. Its adjusted earnings swung from a $0.02 profit in the prior-year period to a net loss of $0.06 per share this time. However, the average analyst was anticipating a loss of $0.09 per share on revenue of about $120 million.
Management also offered revenue guidance for its fiscal fourth quarter that was higher than Wall Street's current average estimate, and boosted the midpoint of its full-year revenue target range from $473 million to $487 million.
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Why Sprinklr Stock Jumped as Much as 21% on Friday