SVMK (SVMK) - Get Report shares surged on Friday after the parent of software provider SurveyMonkey reported a narrower-than-expected loss and stronger-than-expected revenue and average revenue per user.
The shares closed up nearly three bucks to $19.47 on Friday.
The San Mateo, Calif., company reported second-quarter losses of 14 cents a share, compared with 12 cents in the year-earlier quarter. The adjusted loss in the second quarter was 1 cent a share vs. 2 cents a year earlier.
A survey of analysts by FactSet was looking for a reported loss of 17 cents a share and an adjusted deficit of 5 cents.
Revenue rose 20% to $75.1 million. The FactSet survey was looking for $72.7 million.
Average revenue per user reached $442, 8% higher than $410 in the year-earlier quarter and 3.9% ahead of the FactSet estimate of $425.50.
Paying users of the software rose 12% from a year earlier to 692,455. Some 80% of users were on annual plans, compared with 75% a year earlier.
Looking at full-year 2019, SVMK expects revenue of $302 million to $306 million, up 19% to 20% from full-year 2018. FactSet's survey is pegging the year's revenue at $304.4 million.
Save 76% with our Summer Break Sale. Subscribe to our premium site Real Money and become a smarter investor! Click here today to sign up!