Shares of enterprise automation platform UiPath (NYSE: PATH) rallied on Friday, rising 5.8% as of 11:33 a.m. EDT.
UiPath delivered second-quarter results last night, handily beating analyst expectations. The results seemed at odds with the current fear among software-as-a-service companies that generative artificial intelligence may be a threat to their business models.
In the second quarter, UiPath grew revenue 14.4% to $362 million, while adjusted (non-GAAP) earnings per share more than tripled, albeit off a very low base of $0.04, to $0.15. Both figures handily beat analysts' expectations.
Source Fool.com