UiPath, Inc. (PATH) shares are gaining more than 14 percent on Thursday morning trade after the company reported net loss for the first quarter, narrower than last year. The earnings were supported by a surge in revenues.
Net loss for the quarter was $122.56 million or $0.23 per share compared to $239.66 million or $1.11 per share last year. The company posted quarterly revenues of $245.07 million, up from $186.22 million in the prior year.
Currently, shares are at $19.31, up 14.71 percent from the previous close of $16.83 on a volume of 7,647,066. For the 52-week period, the shares have traded in a range of $13.66-$79.99 on average volume of 7,969,293.
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