Dynatrace Q3 Results Beat View, Raises FY21 Outlook; Names Jill Ward As Chair Of Board

(RTTNews) - Software intelligence provider Dynatrace, Inc. (DT) on Wednesday reported net income for the third quarter of $18.42 million or $0.06 per share, up sharply from $1.76 million or $0.01 per share in the prior-year quarter.

Adjusted earnings were $0.17 per share, compared to $0.10 per share last year.

Total revenue for the quarter grew 28 percent to $182.91 million from $143.30 million in the year-ago period.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.13 per share for the quarter on revenues of $172.33 million. Analysts' estimates typically exclude special items.

For the fourth quarter, Dynatrace forecast adjusted net income in a range of $0.13 to $0.14 per share and total revenue in a range of $190 million to $192 million, representing 26 percent to 28 percent growth as reported, and 23 percent to 24 percent on a constant currency basis.

The Street expects the company to report earnings of $0.12 per share on revenues of $176.42 million.

For fiscal 2021, the company raised its forecast for adjusted net income to a range of $0.61 to $0.62 per share, and total revenue to a range of $697 million to $699 million, representing 28 percent growth as reported and 27 percent growth on a constant currency basis.

Analysts expect the company to report earnings of $0.56 per share for the year on revenues of $672.9 million.

Dynatrace also said it has appointed non-executive, independent board member Jill Ward as chair of its board of directors. Ward, an experienced board member, business leader, and operating executive, has been a member of the board since September 2019. As chair, Ward will continue to advise Dynatrace on its next phase of growth.