Saturday, February 4, 2023

UiPath Stock Rises On Impressive Earnings Beat and Strong Guidance

By ET Bureau - December 04, 2022 1 Mins Read

In extended trading, shares of the business automation software company UiPath Inc. surged after it reported financial results for the third quarter that easily surpassed expectations. The company’s overall loss was reduced in the end.

Additionally, it gave positive guidance for the following quarter. UiPath easily beat Wall Street’s target of a four-cent-per-share loss in its statement, reporting earnings before certain costs like stock compensation of five cents per share. The period’s revenue increased by 19% from the prior year to USD 262.7 million, easily exceeding the analysts’ prediction of USD 248.1 million.

Also Read: Busting Three Key Fallacies About Multi-Cloud Computing

UiPath reported a net loss of USD 57.7 million overall for the quarter, down from a loss of USD 122.8 million in the same period last year. The business had also accrued a loss of USD 120.3 million just three months prior.

Read More: UiPath’s stock rises on impressive earnings beat and strong guidance

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ET Bureau

The Enterprise talk Bureau has five well-trained writers and journalists, well versed in B2B enterprise technology industry, and constantly in touch with industry leaders for the latest trends, opinions, and other inputs- to bring you the best and latest in the domain.

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