Smartsheet's stock rises on strong results, guidance

Smartsheet Inc.'s stock (SMAR) climbed more than 3% in extended trading Thursday after the company reported quarterly results and full-year revenue guidance that beat analyst estimates. Smartsheet reported a fiscal second-quarter net loss of $33.4 million, or 25 cents a share, compared with a net loss of $63.2 million, or 47 cents a share, in the year-ago quarter. Adjusted earnings were 16 cents a share. Revenue was $235.6 million, compared with $186.7 million a year ago. Analysts surveyed by FactSet had expected on average net earnings of 7 cents a share on revenue of $229.6 million. Smartsheet said it expects fiscal year revenue of between $950 million and $953 million, eclipsing analyst projections of $946 million. Shares of Smartsheet are up 2.5% this year, while the broader S&P 500 index has risen 16%.

-Jon Swartz

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

09-07-23 1951ET

Copyright (c) 2023 Dow Jones & Company, Inc.