After rallying yesterday, ZUO stock continues to climb Thursday after the California enterprise software company reported its second-quarter report.
Here’s everything we know.
ZUO Stock Climbs Higher on Second Quarter Report
On Wednesday, Zuora, Inc. (NYSE:ZUO) reported its financial results for the second quarter. It also addressed its fiscal full-year revenue estimate, increasing it from $273.5 million to $278 million. Once the report was released and after-hours trading began, ZUO stock jumped 15%. That’s not surprising, though, considering the company reported better-than-expected revenue for the latest period. In the second quarter, Zuora reported revenue of $69.7 million; analysts had forecasted revenue of $66.9 million.
Zuora Inc., which has been providing software for businesses since 2007, also reported a non-GAAP loss attributable to common stock shareholders of 9 cents a share. For perspective, that’s $9.5 million. Analyst estimates fell around the $14.6 million mark.
“In the second quarter, we reported solid results,” said Tien Tzuo, CEO of the company. “We made progress with operational execution, product innovation and launched our Zuora Central Platform, all focused on delivering durable, long-term growth.”
At the time of writing, ZUO stock is still reaping the benefits of beating sales expectations and reporting a narrower-than-expected adjusted Q2 loss.
According to Yahoo Finance, as of 10:38 AM EDT, ZUO stock is trading at $15.41; this puts ZUO stock up 10.62%.
Financial reports for the latest period have been mixed on the stock market. We have seen other companies plunge after reporting their reports, so it’s nice to see that some companies are benefiting from their hard work. Good things are only expected to come for Zuora, Inc. as well, so make sure you keep an eye on this software stock.
Do you have any thoughts on the company’s report? Did you expect ZUO stock to jump the way that it has? Let us know your thoughts in the comments below.
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