(Adds Outlook, stock movement)
Citing favorable market condition and strong demand, Cognyte Software Ltd. (CGNT) has lifted its annual outlook better than the Street view.
The company now expects adjusted loss per share of $0.03, compared with the earlier expectation for a loss of $0.07 per share.
Analysts, on average, forecast the firm to register a loss of $0.07 per share, for the year.
For the full year, revenue is now projected to be $347 million, higher than the previous outlook for $344 million and analysts' estimate of $343.4 million.
CGNT was up by 5.65 percent at $7.86 per share in the afterhours on the Nasdaq.
Q2 Results:
Below are the earnings highlights for Cognyte Software Ltd. (CGNT):
Earnings: -$1.934 million in Q2 vs. -$9.426 million in the same period last year.
EPS: -$0.03 in Q2 vs. -$0.13 in the same period last year.
Excluding items, Cognyte Software Ltd. reported adjusted earnings of $3.855 million or $0.05 per share for the period.
Analysts projected -$0.02 per share
Revenue: $84.413 million in Q2 vs. $77.053 million in the same period last year.
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