Why Medallia Stock Surged Today
Shares of Medallia (NYSE: MDLA) were up by 11% as of 11:15 a.m. EDT today, after the company reported first-quarter earnings. The results were mixed compared to analyst expectations, but Medallia also offered strong guidance that impressed investors.
First-quarter revenue increased 17% to $131.4 million, ahead of the $127.3 million in sales that Wall Street was modeling for. That resulted in an adjusted net loss of $12.1 million, or $0.08 per share, which was slightly worse than the $0.07 per share in adjusted losses that analysts were expecting. The technology company, which operates a platform to measure customer experiences, said subscription revenue was $106.1 million. It finished the quarter with $540.5 million in cash.
A screen shot of Medallia's platform. Image source: Medallia.
Source Fool.com
