Here's Why BlackLine Soared 30% Friday
If you've never worked in an accounting department, it's difficult to imagine month-end or quarter-end close, a process that involves reconciling every transaction that occurred during the period. It's among the most time-consuming and intense jobs that accountants perform, as they must ensure that transactions are recorded in the correct period, reconciliations are conducted, and recurring entries are posted.
Software-as-a-service specialist BlackLine (NASDAQ: BL) helps make it much less onerous by breaking the process into manageable chunks that are performed on a daily basis, solving a problem that has long vexed accountants. As a result, users are flocking to its system and the company is thriving.
When BlackLine reported its second-quarter financial results on Thursday, they were better than investors imagined, sending the stock soaring more than 30% on Friday.
Quelle Fool.com
