Why SurveyMonkey Stock Jumped Today
Shares of SurveyMonkey parent SVMK (NASDAQ: SVMK) have jumped today, up by 10% as of 12:30 p.m. EDT, after the company reported first-quarter earnings. The survey software specialist beat expectations for sales and lost less money than analysts had predicted.
Revenue in the first quarter jumped 29% to $88.3 million, topping the consensus estimate of $85.5 million in sales. That led to an adjusted net loss of $4.3 million, or $0.03 per share. Wall Street was looking for $0.04 per share in adjusted red ink. SVMK added over 25,000 paying users during the quarter, bringing total paying users to approximately 746,000. The bulk of those customers (85%) are on annual plans, and average revenue per user (ARPU) was $483.
Image source: Getty Images.
Source Fool.com
