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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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Fool contributor Evan Niu, CFA has no position in any stocks mentioned. The Motley Fool recommends Informatica. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.