Earnings Results: PagerDuty stock rallies as results, revenue outlook top Wall Street’s view

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PagerDuty Inc. shares rallied in the extended session Wednesday after the DevOps software company’s results and revenue outlook topped Wall Street estimates.

PagerDuty 
PD,
+8.31%

shares, which initially had slipped 5% after the release of the report, flipped and rallied 13% after hours, following a 8.3% rise in the regular session to close at $26.85.

The company reported a fourth-quarter loss of $29.4 million, or 34 cents a share, compared with a loss of $22.1 million, or 27 cents a share, in the year-ago period. The adjusted loss was 4 cents a share, compared with 7 cents a share in the year-ago period.

Revenue rose to $78.5 million from $59.3 million in the year-ago quarter. Analysts surveyed by FactSet had forecast a loss of 6 cents a share on revenue of $71.6 million.

“Our digital operations platform is designed to effectively predict, facilitate and automate the urgent, unstructured work essential to modern business success,” said Jennifer Tejada, PagerDuty chairperson and chief executive, in a statement. “We enter the new fiscal year with tremendous momentum, well-positioned to support an even broader cross-section of teams across the enterprise.”

PagerDuty expects an adjusted loss of 9 cents to 8 cents a share on revenue of $81.5 million to $83.5 million in the first quarter, and an adjusted loss of 23 cents to 17 cents a share on revenue of $360 million to $366 million for the year.

Analysts had forecast a loss of 6 cents a share on revenue of $80.1 million for the first quarter, and 19 cents a share on revenue of $351.5 million for the year.

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