News stock rallies on narrower loss, higher sales for fiscal Q3

0 Holdings Inc.

shares rallied more than 12% in the extended session Thursday after the software company that provides back-office software for businesses reported a narrower fiscal third-quarter adjusted loss and sales that topped views. said it lost $26.7 million, or 32 cents a share, in the quarter, compared with a net loss of $8.3 million, or 11 cents a share, in the fiscal third quarter of 2020. Adjusted for one-time items, the company lost $1.7 million, or 2 cents a share. Sales rose 45% to $59.7 million. Analysts polled by FactSet expected an adjusted loss of 7 cents a share on sales of $54.6 million. The company guided for fiscal fourth-quarter revenue between $60.9 million and $61.9 million, and an adjusted loss between 5 cents a share and 4 cents a share. In a separate press release, said it has agreed to buy Divvy, a maker of expense-management software, for about $2.5 billion. Both boards have approved the cash and stock deal, expected to close by the end of’s September quarter.

Vaccine Stocks Pare Deep Losses As Angela Merkel Opposes Waiving Patents

Previous article

AMC Posts $567 Million Loss While Reveling in Meme Stock Boom

Next article

You may also like


Leave a reply

Your email address will not be published.

More in News