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 NetSuite (NYSE:N) soared today by as much as 18% today after the company reported better-than-expected third quarter earnings.
So what: Revenue jumped 31% to $79.8 million, with adjusted net income of $5.7 million, or $0.08 per share. Those figures topped analyst estimates of just $78 million in sales, and $0.06 per share profit. NetSuite also boosted guidance in the process.
Now what: The company now sees fiscal year 2012 adjusted earnings per share of $0.23 to $0.24, up from its previous guidance of $0.19 to $0.21 per share. Billings growth was strong at 34%, and NetSuite continues to be a beneficiary of the migration of software to the cloud. CEO Zach Nelson said that this year's investments have been one of the most successful initiatives in NetSuite's history.
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