Zendesk shares rally after earnings, outlook beat Street view
Zendesk Inc. shares rose in the extended session Tuesday after the enterprise-software company's quarterly results and outlook topped Wall Street estimates. Zendesk shares surged 7% after hours, following a 0.6% decline to close the regular session at $68.60. The company reported a fourth-quarter loss of $33.3 million, or 31 cents a share, compared with a loss of $25 million, or 24 cents a share, in the year-ago period. Adjusted earnings were 10 cents a share. Revenue rose to $172.2 million from $121.9 million in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of 3 cents a share on revenue of $165.6 million. Zendesk expects revenue of $178 million to $180 million for the first quarter, and $795 million to $805 million for the year. Analysts had forecast revenue of $172.8 million for the first quarter and $779.3 million for the year. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.