Shares of online marketing and search company, Yext (NYSE: YEXT) jumped in pre-market trading at the time of publishing on Wednesday after the company reported Q1 adjusted earnings of $0.09 per share versus $0.06 in the same period last year, exceeding consensus forecasts of $0.05 per share. The company posted Q1 revenues of $99.5 million, up by 1% year-over-year and above the consensus forecast of $98.5 million.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
The company posted Annual Recurring Revenue (ARR) of $398 million, up by 3% year-over-year.
Looking forward, Yext has now forecasted Q2 revenues to be in the range of $101.5 million to $102.5 million while adjusted earnings are likely to be between $0.06 and $0.07 per share. For FY24, the company expects revenues to be in the range of $404 million and $407 million while adjusted earnings are anticipated to be between $0.28 and $0.29 per share.
Over the past year, YEXT stock has soared by more than 80%.
