: UiPath earnings top Wall Street view, forecast less so

UiPath Inc. PATH shares initially fell under pressure in the extended session Wednesday after the AI startup’s forecast overshadowed its earnings beat. UiPath shares declined as much as 2%, but were last up 4.5%, following a 0.3% rise to close the regular session at $16.22. The company reported a second-quarter loss of $60.4 million, or 11 cents a share, compared with a loss of $120.4 million, or 22 cents a share, in the year-ago period. Adjusted earnings, which excludes stock-based compensation expenses and other items, were 9 cents a share, versus a loss of 2 cents a share in the year-ago period. Revenue rose to $287.3 million from $242.2 million in the year-ago quarter. Analysts surveyed by FactSet had forecast 4 cents a share on revenue of $281.5 million. The company forecast revenue between $313 million and $318 million in the third quarter, and between $1.27 billion and $1.28 billion for the year. Analysts had estimated adjusted earnings of 7 cents a share on revenue of $318.5 million for the second quarter, and 34 cents a share on revenue of $1.27 billion for the year.

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