SolarWinds Q3 Earnings: Subscription Gains Drive Revenue, Raises Full-Year Forecast
Portfolio Pulse from Anusuya Lahiri
SolarWinds Corp (NYSE:SWI) reported strong Q3 earnings with a 6% revenue growth, beating analyst estimates. Subscription revenue surged, while maintenance and license revenues declined. The company raised its full-year forecast, leading to a stock price increase.
October 31, 2024 | 4:31 pm
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SolarWinds reported a strong Q3 with revenue and EPS beating estimates, driven by a significant increase in subscription revenue. The company raised its full-year forecast, leading to a positive stock price reaction.
SolarWinds' Q3 results exceeded expectations with a notable increase in subscription revenue, which is a positive indicator of future recurring revenue. The raised full-year forecast suggests confidence in continued growth, leading to a positive market reaction and a 3.58% stock price increase.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100