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Why Domo Stock Soared Today

TheMotleyFool

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Shares of Domo (NASDAQ: DOMO) have soared today, up by 15% as of 12:48 p.m. EST, after the business analytics specialist reported third-quarter earnings. The company beat expectations for both top- and bottom-line results.

Revenue in the third quarter increased 22% to $44.8 million, of which $37.8 million was subscription revenue. Billings came in at $44.4 million, and Domo reported an adjusted net loss of $23.6 million, or $0.85 per share. Analysts had been modeling for $41.8 million in sales and an adjusted loss of $1.02 per share. The company burned through $19.5 million in negative operating cash flow, and finished the quarter with $115.9 million in cash on the balance sheet.

Image source: Getty Images.

Source Fool.com

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