Shares of Qualtrics International Inc. jumped more than 4% in extended trading Thursday after the experience-management software company reported fiscal first-quarter revenue that exceeded Wall Street analysts’ forecasts.
Qualtrics
XM,
reported a net loss of $292.3 million, or 51 cents a share, compared with a net loss of $199.9 million, or 41 cents a share, in the year-ago quarter. Adjusted earnings were $3.4 million, or a penny a share. Revenue soared 41% to $335.6 million from $238.6 million a year ago. Analysts surveyed by FactSet had expected an adjusted loss of a penny a share on revenue of $326 million.
Subscription sales jumped 50% to $280.8 million as customers such as Chipotle Mexican Grill Inc.
CMG,
and Kroger Co.
KR,
expanded deals.
“Every CEO wants to deepen their relationship with customers and employees,” Qualtrics Chief Executive Zig Serafin told MarketWatch. Highlighting his point, Qualtrics research shows 28% of U.S. workers plan to leave their employer this year.
The company guided for second-quarter revenue of between $344 million and $346 million, topping Wall Street’s forecast of $338 million.
Qualtrics’ stock has sunk 31% this year, while the broader S&P 500 index
SPX,
has declined 6%.
This post was originally published on Market Watch
