Sprinklr Sprinkles Growth In The Middle East With New Data Solution Launch
Portfolio Pulse from Lekha Gupta
Sprinklr, Inc. (NYSE:CXM) announced the launch of a local data hosting solution in Saudi Arabia, hosted on Google Cloud, aiming to expand in the Middle East and comply with regional regulations. This move, marking Sprinklr as the first customer experience platform with local hosting in Saudi Arabia on Google Cloud, is expected to provide a competitive advantage. The company reported an 18% Y/Y revenue increase for Q3 FY24 to $186.3 million, surpassing consensus estimates. CXM shares rose 0.38% in premarket trading.
March 11, 2024 | 12:20 pm
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Sprinklr, Inc. (NYSE:CXM) launches a local data hosting solution in Saudi Arabia on Google Cloud, aiming for expansion in the Middle East. The company reported an 18% Y/Y revenue increase for Q3 FY24, with shares up 0.38% premarket.
The launch of a local data hosting solution in Saudi Arabia represents a strategic move for Sprinklr to expand its presence in the Middle East and comply with local regulations, potentially increasing its customer base and revenue in the region. The positive revenue growth reported for Q3 FY24 further supports a bullish outlook for the stock in the short term. The premarket stock price movement indicates initial positive investor reaction.
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