PagerDuty’s (NYSE: PD) bottom line and topline results for the second quarter of fiscal 2020 surpassed the market’s views. However, PagerDuty stock, which ended down 3.79% at $36.60 when the market closed today, dropped about 7% in the extended trading session as the company provided mixed outlook for the third quarter of 2020.
For the second quarter ending July 2019, PagerDuty reported non-GAAP net loss per share of $0.07 compared to a loss of $0.18 per share in the second quarter of fiscal 2019. Revenue jumped 45% to $40.4 million. Analysts had predicted the company to post a loss of 10 cents per share on revenue of $39.12 million.
On a GAAP basis, net loss was $12.6 million or $0.17 per share compared to a loss of $12.6 million or $0.59 in the second quarter of fiscal 2019.
For the third quarter of fiscal 2020, PagerDuty expects revenue to grow 33-36% year-over-year to a range of $41.5 million to $42.5 million. Non-GAAP net loss per share is expected to be in the range of $0.09 – $0.10 compared to the market’s expectations of 8 cents loss per share.
Read: Okta tops Q2 2020 estimates; stock drops on weak Q3 outlook
The San Francisco-based firm lifted its outlook for fiscal 2020. The company now expects revenue to be in the range of $162 million to $164 million, representing a growth rate of 37-39% versus the previous estimate of $161 million to $163 million. Non-GAAP net loss per share is pegged to be $0.36 – $0.37 compared to the previous loss per share outlook of $0.37 – $0.38.
PagerDuty, which went public in April this year, had over 12,000 customers as of July 31, 2019. New and expansion customers include Marks and Spencer, Vanguard, WooliesX (Woolworths), Stripe, IHS Markit, Monzo, DoorDash, and Clover Health.
PagerDuty stock, which hit a new high of $59.82 on June 17, had dropped 23% in the last three months.
Get access to timely and accurate verbatim transcripts that are published within hours of the event
Most Popular
SBUX Earnings: Key quarterly highlights from Starbucks’ Q4 2024 financial results
Starbucks Corporation (NASDAQ: SBUX) reported its fourth quarter 2024 earnings results today. Consolidated net revenues declined 3%, including on a constant currency basis, to $9.1 billion compared to the same
Key highlights from Biogen’s (BIIB) Q3 2024 earnings results
Biogen Inc. (NASDAQ: BIIB) reported its third quarter 2024 earnings results today. Total revenue decreased 3% year-over-year to $2.46 billion. Revenues were down 3% on a constant currency basis as
Infographic: Caterpillar (CAT) reports lower Q3 revenue and adj. profit
Caterpillar Inc. (NYSE: CAT), a leading manufacturer of construction and mining equipment, on Wednesday reported a decrease in revenue and adjusted earnings for the third quarter of 2024. Sales and