Shares of Qualys Inc. (QLYS) are rising over 7% Tuesday morning, after the company reported better-than-expected Q2 results, and raised financial guidance for fiscal 2021.
The stock, which has been trading in the range of $86.65 - $148.84 for the past one year, is currently trading at $113.07, up $7.96 or 7.57%, with trading volume of over 121K versus an average volume of 317K shares.
The company reported Q2 GAAP net income of $21.1 million or $0.53 per share compared to $26.3 million or $0.64 per share last year. Non-GAAP net income was $31.6 million or $0.79 per share versus $30.3 million or $0.74 per share in the prior year period. Revenues for quarter rose by 12% to $99.7 million from $88.8 million for the same quarter in 2020.
Analysts polled by Thomson Reuters expected earnings of $0.68 per share on revenue of $98.97 million for the quarter. Analysts' estimate typically exclude certain special items.
Q3 Outlook
For the third quarter, the company sees revenues in the range of $103.8 million - $104.4 million, GAAP earnings per share of $0.46 - $0.48, and non-GAAP earnings of $0.78 - $0.80 per share. Wall Street analysts estimate earnings of $0.66 per share and revenue of $102.89 million for the quarter.
For fiscal 2021, the company currently projects revenues in the range of $406.0 million - $407.5 million, GAAP earnings per share of $1.38 - $1.43, and non-GAAP earnings per share between $3.02 and $3.07.
Previously, the company expected 2021 revenue to be in the range of $402.5 million - $404.5 million, GAAP earnings per share of $1.06 - $1.11, and non-GAAP earnings of $2.67 - $2.72 per share. Analysts look for earnings of $2.71 per share on revenue of $403.4 million for fiscal 2021.
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