NetSuite Earnings: Here’s Why Investors Like These Results
NetSuite Inc. (NYSE:N) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 2.15%.
NetSuite Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 33.33% to $0.04 in the quarter versus EPS of $0.06 in the year-earlier quarter.
Revenue: Rose 32.14% to $91.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: NetSuite Inc. reported adjusted EPS income of $0.04 per share. By that measure, the company beat the mean analyst estimate of $0.03. It beat the average revenue estimate of $90.96 million.
Quoting Management: “While traditional software companies continued to struggle, NetSuite delivered arguably the finest Q1 in our history,” said Zach Nelson, CEO of NetSuite. “NetSuite’s success is driven by the fact that businesses around the world realize that in order to achieve their business vision, they need to move their core operational systems from pre-cloud software like Microsoft Dynamics GP/Great Plains and SAP to NetSuite’s modern cloud-based suite of applications.”
Key Stats (on next page)…