Smartsheet Tops Q2 Earnings Estimates, Raises FY24 Outlook
Portfolio Pulse from Lekha Gupta
Smartsheet Inc (NYSE:SMAR) reported Q2 FY24 revenue growth of 26% Y/Y to $235.6 million, beating the consensus of $229.51 million. The company also raised its FY24 outlook. Subscription revenue rose 28% Y/Y to $221.5 million, and Professional services revenue increased 7% Y/Y to $14.1 million. Adjusted EPS of $0.16 exceeded the consensus of $0.07. The company expects Q3 revenue of $240 million-$242 million and adjusted EPS of $0.08-$0.09. The outlook for FY24 revenue was boosted to $950 million - $953 million from $943 million - $948 million.
September 08, 2023 | 10:56 am
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Smartsheet Inc reported strong Q2 FY24 results, beating revenue estimates and raising its FY24 outlook. This positive news is likely to have a positive impact on the company's stock in the short term.
Smartsheet Inc reported strong Q2 FY24 results, with revenue growth of 26% Y/Y and adjusted EPS exceeding consensus. The company also raised its FY24 outlook, indicating confidence in its future performance. This positive news is likely to boost investor confidence and drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100