PagerDuty Q4 Results Beat Street View, Revenue Outlook Strong; Share Jump 15%

(RTTNews) - Shares of PagerDuty, Inc. (PD) surged nearly 15% on Wednesday's extended session after the company reported results for the fourth quarter and outlook for the first quarter and full year 2023.

Fourth-quarter net loss widened to $28.7 million or $0.34 per share from $22.1 million or $0.27 per share last year.

Adjusted loss per share for the quarter was $0.04, while analysts polled by Thomson Reuters were expecting a loss of $0.06 per share.

Revenues for the quarter rose 32.4% to $78.5 million from $59.3 million last year. Analysts had a consensus revenue estimate of $76.08 million.

Looking forward to the first quarter, the company expects adjusted loss of $0.09 to $0.08 per share on revenues of $81.5 million to $83.5 million. Analysts currently estimate loss of $0.06 per share on revenues of $80.23 million for the quarter.

For the full year 2023, the company expects revenues of $360.0 million to $366.0 million and adjusted loss of $0.23 to $0.17 per share. Analysts currently estimate a loss of $0.19 per share and revenues of $352.68 million.

PD closed Wednesday's trading at $26.85, up $2.06 or 8.31%, on the Nasdaq. The stock further gained $3.97 or 14.79% in the after-hours trading.