PagerDuty Inc. shares initially rose 4% in after-hours trading Thursday after the digital operations management platform reported fiscal first-quarter results that exceeded Wall Street estimates. However, shares slid 4% in the extended session.
PagerDuty PD, -4.94% reported a loss of $11.5 million, or 15 cents a share, compared with a loss of $12.1 million, or 37 cents a share, in the year-ago quarter. After adjusting for stock-based compensation and other factors, PagerDuty reported a loss of $3.2 million, or 4 cents a share, down from $7.3 million, or 22 cents a share, a year ago.
Revenue soared 33% to $49.8 million from $37.3 million a year ago. Analysts surveyed by FactSet had expected adjusted earnings of -9 cents a share on sales of $48 million.
“We believe that PagerDuty is uniquely positioned to be a trusted partner in this environment. Our cloud-native platform is designed to enable proactive response capabilities to prevent outages, and gain predictive insights so our customers can automate repetitive work and improve collaboration across virtual teams,” PagerDuty Chief Executive Jennifer Tejada said in a statement announcing the results.
The San Francisco-based company offered fiscal 2021 revenue of between $204 million and $213 million, roughly in line with FactSet analyst estimates of $206.7 million. PagerDuty expects between $50 million and $51 million in sales for its current second quarter, compared with $49.8 million forecast by FactSet.
PagerDuty shares are up 15% this year. The broader S&P 500 index SPX, -0.33% is down 3.7% in 2020.
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