Zuora shares rise after results, outlook top Street view
Zuora Inc. shares rose in the extended session Thursday after the business-subscription software company's quarterly results and outlook topped Wall Street expectations. Zuora shares rose 5.7% after hours, following a 1.1% gain to close at $22.18 in the regular session. Thursday's earnings report is the company's first since going public in April. The company reported a first-quarter loss of $19.4 million, or 43 cents a share, compared with a loss of $8.1 million, or 33 cents a share, in the year-ago period. The adjusted loss was 32 cents a share. Revenue rose to $51.7 million from $32.3 million in the year-ago period. Analysts surveyed by FactSet had estimated a loss of 40 cents a share on revenue of $49 million. Zuora estimates an adjusted loss of 16 cents to 15 cents a share on revenue of $53.5 million to $54.5 million for the second quarter, and a loss of 62 cents to 59 cents a share on revenue of $220 million to $223 million for the year. Analysts expect a loss of 17 cents a share for the second quarter on revenue of $51.3 million, and a loss of 65 cents a share for the year on revenue of $213.5 million.
