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Why Zuora Stock Soared Today

TheMotleyFool

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Shares of Zuora (NYSE: ZUO) had soared today, up as much as 20% this morning before giving back much of those gains, after the company reported fiscal first-quarter earnings. As of 12:30 p.m. EDT, the stock is up just 3%.

Revenue in the first quarter increased 15% to $73.9 million, which topped the consensus estimate of $70.7 million in sales. That resulted in an adjusted net loss of $7.5 million, or $0.06 per share, which was also better than the $0.10 per share in adjusted losses that analysts were expecting. Customers with annual contract value (ACV) of $100,00 or more grew to 643, while dollar-based retention rate was 103%.

Image source: Getty Images.

Source Fool.com

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