Why Smartsheet Stock Popped Today

Shares of Smartsheet (NYSE: SMAR) were up 9.4% as of 2 p.m. ET Friday after the work-management software company announced strong fiscal second-quarter 2024 results for the period ended July 31.

Quarterly revenue climbed 26% year over year to $235.6 million, translating to adjusted net income of $22 million, or $0.16 per share. Analysts on average were expecting earnings of only $0.07 per share on revenue of $229.6 million.

CEO Mark Mader said the company easily exceeded all of its guidance, crediting the platform's scalability for driving "strong demand from enterprises looking for solutions to manage their mission-critical work securely and consistently."

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Source Fool.com