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: Qualtrics’ stock jumps after software company beats revenue, earnings estimates

Qualtrics International Inc.’s stock jumped more than 10% in extended trading Monday after the experience-management software company reported fiscal third-quarter results that topped Wall Street analysts’ forecasts.

The better-than-expected revenue, earnings and outlook “underscore the critical role our software is playing in a macroeconomic climate” of retaining employees and customers, Qualtrics Chief Executive Zig Serafin told MarketWatch. “How do you navigate in increasingly turbulent times?”

Qualtrics 
XM,
-0.95%

posted a net loss of $233.5 million, or 40 cents a share, compared with a net loss of $286 million, or 56 cents a share, in the year-ago quarter. Adjusted earnings were $26.4 million, or 4 cents a share.

Revenue jumped 39% to $377.5 million from $271.6 million a year ago. Analysts surveyed by FactSet had expected an adjusted loss of 2 cents a share on revenue of $359 million.

Subscription sales, the company’s bread and butter, jumped 43% to $314.8 million as customers such as Kroger Co.
KR,
+0.83%
,
Domino’s Pizza Inc.
DPZ,
+0.50%

and the State Department expanded deals.

The company guided for fourth-quarter revenue of between $380 million and $382 million, topping Wall Street’s forecast of $373 million.

Shares increased between 10% and 14% in after-hours trading immediately following the release of the results, after closing with a 1% decline at $10.48. Qualtrics’ stock has plummeted 71% this year, while the broader S&P 500 index 
SPX,
+1.19%

has declined 20%.

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