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MarketWatch MarketPulseDec 05, 2019
PagerDuty stock plunges more than 15% after revenue beat
PagerDuty Inc. shares plunged 15% in the extended session Thursday after the software company reported a fourth-quarter outlook for adjusted losses that was greater than the consensus estimates. PagerDuty beat third-quarter revenue estimates. The company reported a third-quarter net loss of $15.3 million, or 20 cents a share, compared with a net loss of $15.4 million, or 71 cents a share, in the year-ago period. Adjusted for stock-based compensation, earnings were 10 cents a share. Revenue rose to $42.8 million from $31.2 million in the year-ago period. Analysts surveyed by FactSet had estimated third-quarter revenue of $42.1 million and model fourth-quarter adjusted losses of 5 cents a share on revenue of $43.8 million. FactSet did not produce a reliable adjusted per-share estimate for the third quarter. The company said it expected a fourth-quarter adjusted loss of 6 cents to 7 cents a share and revenue of $44.5 million to $45.5 million. PagerDuty said that it had appointed former Salesforce Inc. executive Dave Justice as Chief Revenue Officer. PagerDuty stock has fallen 48% in the past six months, with the S&P 500 index rising 10.1%.

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