New Relic Swings to Fiscal Q3 Loss; Revenue Rises; Sees Fiscal Q4 Non-GAAP Loss; Shares Fall
09:59 AM EST, 02/05/2021 (MT Newswires) -- New Relic (NEWR) reported a fiscal Q3 non-GAAP loss of $0.14 per share, compared with earnings of $0.09 per share in the same period a year earlier. That result matched the average estimate of analysts polled by Capital IQ.
The US-based cloud software company reported revenue of $166.3 million for the three months ended Dec. 31, up from $153 million a year earlier. Wall Street was looking for $165 million.
Moving forward, New Relic said it anticipates a fiscal Q4 non-GAAP loss of $0.45 per share to $0.49 per share. That compares with earnings of $0.14 per share reported last year. The company also expects fiscal Q4 revenue to be in the range of $166 million to $167 million versus $159.7 million reported last year.
Analysts polled by Capital IQ are expecting an adjusted Q4 loss of $0.45 on revenue of $166.6 million.
Shares of the company fell as much as 18% in recent Friday morning trade.
Price: 67.15, Change: -13.62, Percent Change: -16.86