PagerDuty’s stock surges 6% on strong sales, guidance

PagerDuty Inc.’s stock is up more than 6% in extended trading Thursday after the cloud-computing company reported quarterly results and issued revenue guidance in line with analyst estimates. The company forecast sales of between $98 million and $100 million for its fiscal fourth quarter, while analysts polled by FactSet on average have modeled $99.3 million. PagerDuty reported a fiscal third-quarter net loss of $32.5 million, or 36 cents a share, compared with a net loss of $26.3 million, or 31 cents a share, in the year-ago quarter. Adjusted earnings were 4 cents a share. Revenue was $94.2 million, up 31% from $71.8 million a year ago. Analysts surveyed by FactSet had expected on average a net loss of 4 cents a share on revenue of $92.8 million. Shares of PagerDuty have declined 35% this year, while the broader S&P 500 index has dropped 14%.

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