Doximity Surges 18% As Earnings Beat Street

(RTTNews) - Shares of Doximity, Inc. (DOCS), an online networking service for medical professionals, were rising more than 18 percent in pre-market on Friday to $28.24, after reporting improved quarterly results. Earnings also beat analysts' view.

Net income for the fourth quarter increased to $40.6 million or $0.20 per share from $30.7 million or $0.14 per share in the same quarter a year ago.

Excluding one-time items, earnings were $51 million or $0.25 per share, that beat the averages estimate of $0.20 per share by analysts polled by Thomson-Reuters.

Revenue foe the quarter increased 6 percent to $118.1 million from $111 million in the previous year, with subscription revenue growth of 9% to $112.7 million.

Doximity shares had closed at $23.74, down 0.46 percent on Thursday. The stock has traded in the range of $19.71 - $36.29 in the last 1 year.