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Earnings Results: Anaplan stock surges 15% on Street beat, hiked outlook

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Anaplan Inc. shares rallied in the extended session Tuesday after the cloud-based business organization platform reported results that topped Wall Street estimates and hiked its outlook for the year.

Anaplan
PLAN,
-2.30%

shares surged 15% after hours, following a 2.3% decline in the regular session to close at $59.98.

The company reported second-quarter loss of $51.1 million, or 35 cents a share, compared with a loss of $35.5 million, or 26 cents a share, in the year-ago period. The adjusted loss, which excludes stock-based compensation expenses and other items, was 9 cents a share, compared with 4 cents a share in the year-ago period.

Revenue rose to $144.3 million from $106.5 million in the year-ago quarter. Analysts surveyed by FactSet had forecast a loss of 14 cents a share on revenue of $133.8 million.

Anaplan forecast third-quarter revenue of $145.5 million to $145.6 million, and hiked its revenue forecast for the year to a range between $571.5 million and $573.5 million, from a previous range of $555 million to $560 million.

Analysts estimate a loss of 7 cents a share on revenue of $142.5 million for the third quarter, and a loss of 36 cents a share on revenue of $559.1 million for the year.

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