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Earnings Results: PagerDuty stock rallies as results, revenue outlook top Wall Street’s view

PagerDuty Inc. shares rallied in the extended session Wednesday after the DevOps software company’s results and revenue outlook topped Wall Street estimates.

PagerDuty 
PD,
+8.31%

shares, which initially had slipped 5% after the release of the report, flipped and rallied 13% after hours, following a 8.3% rise in the regular session to close at $26.85.

The company reported a fourth-quarter loss of $29.4 million, or 34 cents a share, compared with a loss of $22.1 million, or 27 cents a share, in the year-ago period. The adjusted loss was 4 cents a share, compared with 7 cents a share in the year-ago period.

Revenue rose to $78.5 million from $59.3 million in the year-ago quarter. Analysts surveyed by FactSet had forecast a loss of 6 cents a share on revenue of $71.6 million.

“Our digital operations platform is designed to effectively predict, facilitate and automate the urgent, unstructured work essential to modern business success,” said Jennifer Tejada, PagerDuty chairperson and chief executive, in a statement. “We enter the new fiscal year with tremendous momentum, well-positioned to support an even broader cross-section of teams across the enterprise.”

PagerDuty expects an adjusted loss of 9 cents to 8 cents a share on revenue of $81.5 million to $83.5 million in the first quarter, and an adjusted loss of 23 cents to 17 cents a share on revenue of $360 million to $366 million for the year.

Analysts had forecast a loss of 6 cents a share on revenue of $80.1 million for the first quarter, and 19 cents a share on revenue of $351.5 million for the year.

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