Sumo Logic Rises 13% As Q3 Loss Narrows

Shares of software company Sumo Logic, Inc. (SUMO) are climbing 13 percent on Tuesday's trading after the company posted third-quarter loss, which decreased from last year as revenue rose 27.4 percent from a year ago.

The company's bottom line was a loss of $26.3 million, or $0.22 per share. This compares with a loss of $30.8 million, or $0.28 per share, in last year's third quarter.

Excluding items, Sumo Logic reported loss of $4.4 million or $0.04 per share for the period while analysts polled by Thomson Reuters were looking for loss of $0.15 per share for the quarter.

The company's revenue rose to $79.0 million from $62.0 million last year.

Currently at $8.01, the stock has traded between $6.43 and $16.44 during the past 52 weeks.

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