NetSuite 4Q profit, revenue top expectations
SAN MATEO, Calif. (AP) — Cloud-computing and enterprise software provider NetSuite Inc. said Thursday that its loss widened in the final quarter of the year as revenue grew strongly but costs rose more quickly. Still, the company's adjusted earnings beat expectations and its shares rose.
The net loss in the quarter that ended Dec. 31 came to $9.6 million, or 13 cents per share, worse than the loss of $7.6 million, or 11 cents per share, a year ago.
Excluding stock-based compensation costs and other items, adjusted earnings came to 6 cents per share, beating the 4 cents expected by analysts polled by FactSet.
Revenue rose 33 percent to $85 million, also beating the $83 million expected by analysts.
Shares rose $4.93, or 7 percent, to $75.16 in after-hours trading following the earnings release, adding to gains in the regular session of $1.28, or 1.9 percent, to close at $70.23.