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Why Sumo Logic Stock Is Soaring Today

TheMotleyFool

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Why Sumo Logic Stock Is Soaring TodayPhoto, wide shot, wide-angle lens, Computer hardware manufacturer, sunset photo at golden hour, photo by Art Wolfe: https://img.midjourneyapi.xyz/temp/8b396c5d-cf01-4937-89c4-91ad2f28f1ee.png

Shares of Sumo Logic (NASDAQ: SUMO), a software analytics platform company, were rising fast today after the company reported better-than-expected third-quarter results.

Sumo Logic's top and bottom lines both outpaced Wall Street's expectations, helping to send the software-as-a-service stock up 13% as of 11:01 a.m. ET.

Sumo Logic's revenue jumped 27% in the third quarter to $79 million and beat analysts' consensus estimate of $74.1 million for the quarter.

Source Fool.com

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