Yext Jumps After Stronger-Than-Expected Quarterly Report

Yext shares jumped on Friday after its first-quarter report and outlook.
Author:
Publish date:

Shares of Yext (YEXT) - Get Report jumped Friday following the business-database-search provider's stronger-than-expected quarterly report. 

For the first quarter ended April 30 the New York company narrowed its net loss to 14 cents a share from 25 cents in the year-earlier quarter.

On an adjusted basis the loss narrowed to 2 cents a share from a dime a year earlier.

Revenue of $92 million climbed 7.8% from the year-earlier $85.4 million.

Analysts surveyed by FactSet were expecting a GAAP net loss of 20 cents a share, or an adjusted loss of 6 cents a share, on revenue of $88.6 million. 

"We continue to grow revenue while increasing our business efficiencies and cash position," Founder and Chief Executive Howard Lerman said in a statement. 

Yext shares at last check were 18% higher at $14.52. The stock on Friday has traded up as much as 22% at $15.06. They've bounced off a 52-week low $12.01, set on May 11.

For the second quarter Yext expects an adjusted loss of 7 cents to 9 cents a share on revenue of $94 million to $96 million. 

Analysts in the FactSet survey reached a consensus call of a loss of 7 cents a share on revenue of $95.1 million. 

The company also forecast a full-year net loss between 17 cents and 22 cents a share on revenue of $381 million to $386 million.

FactSet's consensus estimate: a loss of 17 cents a share on revenue of $383.3 million.