AP NEWS

New Relic: Fiscal 2Q Earnings Snapshot

November 5, 2019

SAN FRANCISCO (AP) _ New Relic Inc. (NEWR) on Tuesday reported a loss of $18.6 million in its fiscal second quarter.

On a per-share basis, the San Francisco-based company said it had a loss of 32 cents. Earnings, adjusted for stock option expense and amortization costs, came to 24 cents per share.

The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 15 cents per share.

The cloud-based software analytics company posted revenue of $145.8 million in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $143.1 million.

For the current quarter ending in January, New Relic expects its per-share earnings to range from 12 cents to 13 cents.

The company said it expects revenue in the range of $148 million to $150 million for the fiscal third quarter.

New Relic expects full-year earnings in the range of 60 cents to 67 cents per share, with revenue ranging from $588 million to $593 million.

New Relic shares have fallen 18% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $66.44, a decrease of 23% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NEWR at https://www.zacks.com/ap/NEWR