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What: Shares of cloud-based software maker NetSuite
So what: Revenue topped expectations by coming in at a first-quarter record of $69.3 million. Adjusted net income more than doubled to $4.1 million, or $0.06 per share, also topping Street forecasts. Billings grew 26% to $77.9 million.
Now what: Recurring revenue also jumped 27% to $58 million. Full-year earnings per share are expected to be $0.19 to $0.21, which would make the consensus estimate of $0.21 on the high end of guidance. One thing that might have investors concerned is decelerating growth in billings, which had put up 36% growth last quarter.
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Fool contributor Evan Niu holds no position in any company mentioned. Click here to see his holdings and a short bio. Motley Fool newsletter services have recommended buying shares of NetSuite. The Motley Fool has a disclosure policy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.