Data analytics firm Alteryx (NYSE: AYX) reported a profit of 64 cents per share for the fourth quarter of 2019, compared to 32 cents per share it reported last year. Meanwhile, revenues of $156.5 million were 75% higher year-over-year. The results were stronger than what the street anticipated.
The results also came above the targets set by the firm during the previous earnings announcement. The Irvine, California-based company had last quarter projected Q4 earnings of 27-30 cents per share on revenues of $128-131 million.
AYX shares gained 3.2% immediately following the announcement. The stock, which has gained 39% since the beginning of this year, has soared over 9 times since its IPO three years ago.
Historically, Alteryx is often seen giving conservative guidance, which it beats handsomely when the announcement is made.
CFO Kevin Rubin has earlier told AlphaStreet that EPS is not the primary focus from an investor perspective, adding that shareholders understand the enormous opportunities in the global data analytics industry.
Alteryx operates in a high-growth data analytics industry and offers unique products that are accessible to both professionals and non-coders as well. Its growth has been driven by robust customer addition and an envious reach into the Global 2000. Alteryx ended the quarter with 6,087 customers, a 30% increase from the fourth quarter of 2018, reflecting net new addition of 474 customers.