Zendesk shares rally as results, outlook top Street view
Zendesk Inc. shares rose in the extended session Tuesday after the enterprise-software company reported a surprise adjusted profit and forecast revenue above the Wall Street view. Zendesk shares rallied 6% after hours, following a 0.4% decline to close at $48.58 in the regular session. The company reported a first-quarter loss of $29.3 million, or 28 cents a share, compared with a loss of with $25.1 million, or 26 cents a share, in the year-ago period. Adjusted earnings were 2 cents a share. Revenue rose to $129.8 million from an adjusted $93.9 million in the year-ago period. Analysts surveyed by FactSet had estimated an adjusted loss of 3 cents a share on revenue of $126.5 million. For the second quarter, Zendesk estimates revenue of $136 million to $138 million, while analysts expect revenue of $133.9 million.