Smartsheet stock rallies 10% following surprise earnings, new board chair

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 97%

Business News News

Business Business Latest News,Business Business Headlines

Smartsheet Inc. shares surged in the extended session Tuesday after the cloud-based work-management platform reported surprise net income.

Smartsheet Inc. shares surged in the extended session Tuesday after the cloud-based work-management platform reported surprise net income and forecast a “conservative” outlook that was just shy of Wall Street estimates.

Smartsheet SMAR shares rallied 10% after hours, following a 3.6% decline in the regular session to close at $38.32. The company forecast adjusted net income of 8 cents to 9 cents a share on revenue of $213 million to $215 million for the fiscal first quarter, while analysts expect a loss of 5 cents a share on revenue of $217.1 million.

Smartsheet also forecast billings growth of 20% for the year, or $1.07 billion, while analysts expect $1.1 billion.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Uber, DoorDash, Lyft stocks rise after Prop. 22 ruling in CaliforniaShares of Uber Technologies Inc. Lyft Inc. and DoorDash Inc. ended higher Tuesday, a day after a California appeals court handed them a partial victory that... This is great news for gig workers in California! Prop22
Source: MarketWatch - 🏆 3. / 97 Read more »