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What: Shares of Informatica (NASDAQ:INFA) have popped today by greater than 20% following an upbeat earnings release.
So what: Revenue in the fourth quarter totaled $234.7 million, bringing the company to record annual sales of $811.6 million. Adjusted earnings per share came in at $0.41. Both figures topped consensus estimates, which called for $217.3 million in sales and $0.37 per share in profit.
Now what: CEO Sohaib Abbasi said the company is trying to improve its operating performance by effectively scaling the business while tapping into new opportunities in big data and cloud computing. Informatica continues to try and improve its performance in Europe, despite tough macroeconomic conditions. Guidance was also strong, with first-quarter sales expected to be in the range of $196 million to $206 million, compared to expectations of $197.1 million.
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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.