Yext: Fiscal 1Q Earnings Snapshot
NEW YORK (AP) _ Yext Inc. (YEXT) on Thursday reported a loss of $19 million in its fiscal first quarter.
The New York-based company said it had a loss of 18 cents per share. Losses, adjusted for stock option expense, came to 5 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 10 cents per share.
The software developer posted revenue of $68.7 million in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $66.6 million.
For the current quarter ending in August, Yext expects its results to range from a loss of 14 cents per share to a loss of 12 cents per share.
The company said it expects revenue in the range of $70.8 million to $71.8 million for the fiscal second quarter.
Yext expects full-year results to range from a loss of 44 cents per share to a loss of 40 cents per share, with revenue ranging from $297 million to $300 million.
Yext shares have risen 29% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $19.11, a rise of 26% in the last 12 months.