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Why Sumo Logic Stock Jumped 12% Today

·1 min read
Why Sumo Logic Stock Jumped 12% Today
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  • SUMO

Shares of Sumo Logic (NASDAQ: SUMO) jumped as much as 12.5% on Tuesday after the company reported better than expected quarterly results. After the close yesterday, Sumo Logic released its financial results for the third quarter, which ended in October. Revenue was $62 million in the period, up 20% year over year, beating the consensus estimate of $60.85 million.