Why PagerDuty Stock Was Sliding Today
Shares of PagerDuty (NYSE: PD) were moving lower today after the cloud-computing stock's first-quarter earnings report wasn't enough to please investors. As of 11:22 a.m. ET, the stock was down 9%.
PagerDuty, whose software notifies businesses of outages and issues with their digital infrastructure, said that revenue in the quarter rose 28% to $63.6 million, edging out estimates at $62 million. The company now has more than 16,800 customers with annual recurring revenue of more than $1,000,000. That was up 55%, and dollar-based net retention was 121%, so its customer base from a year ago increased its spending by 21%.
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Source Fool.com
