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Yext Inc.shares rallied in the extended session Thursday after the cloud-based software developer’s results and revenue forecast topped Wall Street expectations.
Yext
YEXT,
shares surged 10% after hours, following a 1.8% decline in the regular session to close at $12.31. The stock was up 12% premarket Friday.
The company reported a fiscal first-quarter loss of $17.6 million, or 14 cents a share, compared with $29.2 million, or 25 cents a share, in the year-ago period.
Adjusted top-line results, which exclude stock-based compensation expenses and other items, were a loss of 2 cents a share, compared with a loss of 10 cents a share in the year-ago period.
Revenue rose to $92 million from $85.4 million in the year-ago quarter. Analysts surveyed by FactSet had forecast a loss of 6 cents a share on revenue of $88.6 million.
Yext forecast an adjusted loss of 9 cents to 7 cents a share on revenue of $94 million to $96 million for the second quarter, and a loss of 22 cents to 17 cents a share on revenue of $381 million to $386 million for the year.
Analysts surveyed by FactSet had estimated a loss of 5 cents a share on revenue of $93 million for the second quarter, and a loss of 16 cents a share on revenue of $377.7 million for the year.
