Shares of Zuora Inc.
rallied more than 14% in the extended session Wednesday after the software company reported a narrower-than-expected adjusted second-quarter loss and beat sales expectations. Zuora said it lost $20.8 million, or 19 cents a share, compared with a loss of $18.5 million, or 18 cents a share, in the second quarter of fiscal 2019. Adjusted for one-time items, the company lost $9.5 million, or 9 cents a share, compared with an adjusted loss of $12.7 million, or 12 cents a share, a year ago. Revenue rose 21% to $70 million, the company said. Analysts polled by FactSet had expected an adjusted loss of 14 cents a share on sales of $67 million. Zuora guided for revenue between $273.5 million and $278 million for fiscal 2020, and an adjusted per-share loss between 40 cents and 38 cents for the full year. The stock had ended the regular trading day down 0.5%.
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