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Alteryx Rallies As Earnings Beat, Outlook Better Than Estimates

Shares of Alteryx, Inc. (AYX), that operates in analytic process automation business, are up more than 20% Wednesday morning after reporting better-than-expected second-quarter results. The company's third-quarter outlook also stands above analysts' view.

Alteryx reported net loss of $106.8 million or $1.56 per share in the second quarter wider than $43.4 million or $0.65 per share loss in the same quarter a year ago.

Excluding one-time items, loss was $31.5 million or $0.46 per share, that beat the average estimate of analysts polled by Thomson-Reuters for $0.60 loss per share.

Revenue for the quarter was $180.6 million, an increase of 50% from $120.1 million last year

The company said its Annual Recurring Revenue was up 33% year-over-year to $727 million.

Outlook for the third quarter:
Revenue is expected to be in the range of $191 million to $194 million, an year-over-year growth of 55% to 57%.

Adjusted net loss per share is expected to be in the range of $0.12-$0.09

Analysts expect the company to report loss of $0.18 per share on revenue of $173.67 million.

Full year outlook:

Revenue is expected to be in the range of $770 million to $780 million

Adjusted net loss per share is expected to be in the range of $0.56-$0.46.

The consensus estimate for net loss is $0.55 per share and for revenue is $733.25 million.

AYX is at $60.77 currently. It has traded in the range of $43.45 - $81.30 in the last 1 year.

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