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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Informatica (NASDAQ: INFA ) have jumped by as much as 16% following the company's first quarter earnings release.
So what: Revenue in the first quarter added up to $214.3 million, a modest beat compared to the $202.2 million consensus forecast. Profitability was right on target, with adjusted earnings per share of $0.31. The company signed 19 deals during the quarter over $1 million.
Now what: CEO Sohaib Abbasi said customer demand for Informatica's offerings continues to be strong. The North American business is going well, but Europe is still proving to be a challenge. The company is also boosting its full year guidance as a result, and now expects sales this year to be in the range of $885 million to $925 million. That's up from the previous outlook of $850 million to $900 million in sales.
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