New Relic Q2 Adj. EPS $0.51 Beats $0.39 Estimate, Sales $242.76M Miss $250.83M Estimate
Portfolio Pulse from Benzinga Newsdesk
New Relic (NYSE:NEWR) reported Q2 adjusted earnings of $0.51 per share, beating the analyst consensus estimate of $0.39 by 30.77%. This is a 292.31% increase from the same period last year. However, the company's quarterly sales of $242.76 million missed the analyst consensus estimate of $250.83 million by 3.22%, though it's a 6.98% increase from last year.
October 27, 2023 | 10:30 am
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New Relic's Q2 earnings beat estimates but sales missed. Earnings per share increased by 292.31% YoY, while sales increased by 6.98% YoY but fell short of estimates.
New Relic's earnings beat estimates, which is positive for the stock. However, the company's sales missed estimates, which is negative. The net effect could be neutral in the short term as investors weigh the positive earnings against the negative sales.
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IMPORTANCE 80
RELEVANCE 100