Shares of Qualtrics International Inc. jumped more than 4% in extended trading Thursday after the experience-management software company reported fiscal first-quarter revenue that exceeded Wall Street analysts’ forecasts.
reported a net loss of $292.3 million, or 51 cents a share, compared with a net loss of $199.9 million, or 41 cents a share, in the year-ago quarter. Adjusted earnings were $3.4 million, or a penny a share. Revenue soared 41% to $335.6 million from $238.6 million a year ago. Analysts surveyed by FactSet had expected an adjusted loss of a penny a share on revenue of $326 million.
“Every CEO wants to deepen their relationship with customers and employees,” Qualtrics Chief Executive Zig Serafin told MarketWatch. Highlighting his point, Qualtrics research shows 28% of U.S. workers plan to leave their employer this year.
The company guided for second-quarter revenue of between $344 million and $346 million, topping Wall Street’s forecast of $338 million.
Qualtrics’ stock has sunk 31% this year, while the broader S&P 500 index
has declined 6%.