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New Relic: Fiscal 1Q Earnings Snapshot

August 6, 2019

SAN FRANCISCO (AP) _ New Relic Inc. (NEWR) on Tuesday reported a loss of $15.6 million in its fiscal first quarter.

On a per-share basis, the San Francisco-based company said it had a loss of 26 cents. Earnings, adjusted for stock option expense and amortization costs, came to 19 cents per share.

The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.

The cloud-based software analytics company posted revenue of $141 million in the period, also beating Street forecasts. Eight analysts surveyed by Zacks expected $139.6 million.

For the current quarter ending in October, New Relic expects its per-share earnings to range from 14 cents to 16 cents.

The company said it expects revenue in the range of $143 million to $145 million for the fiscal second quarter.

New Relic expects full-year earnings in the range of 55 cents to 63 cents per share, with revenue ranging from $600 million to $607 million.

New Relic shares have risen 3.5% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $83.79, a fall of 18% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NEWR at https://www.zacks.com/ap/NEWR

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