UiPath Stock Surges On Q3 Earnings, Company Continues To Invest In AI
Portfolio Pulse from Adam Eckert
UiPath Inc (NYSE:PATH) reported Q3 earnings that exceeded expectations, with revenue of $325.92 million and EPS of 12 cents, surpassing estimates of $315.55 million and 7 cents, respectively. The company's revenue and annual recurring revenue both increased by 24% year-over-year. UiPath ended the quarter with $1.8 billion in cash and investments and continues to invest in AI. The company's Q4 revenue outlook is $381 million to $386 million, with an expected adjusted operating income of about $78 million. After the earnings report, PATH shares surged by 11.9% in after-hours trading to $22.19.
November 30, 2023 | 9:34 pm
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UiPath reported strong Q3 earnings with revenue and EPS exceeding estimates, showing a 24% year-over-year growth. The company has a robust cash position and is investing in AI, projecting a positive Q4 outlook.
The positive earnings report and the subsequent after-hours stock price surge indicate a strong short-term bullish sentiment for UiPath. The company's investment in AI and healthy financials, along with a positive outlook for Q4, are likely to maintain investor confidence and could lead to a continued uptrend in the stock price.
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IMPORTANCE 90
RELEVANCE 100