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Informatica stock set to rally after swinging to a net profit, and as revenue rose above expectations

·1 min read
Informatica stock set to rally after swinging to a net profit, and as revenue rose above expectations
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  • INFA
  • ^GSPC

Shares of Informatica Inc. were indicated up nearly 4% in premarket trading Tuesday, after the data management software company, which went public on Oct. 27, swung to a third-quarter net profit and reported revenue that rose above expectations. Net income was $2.7 million, or 1 cent a share, after a loss of $32.3 million, or 13 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share rose to 23 cents from 16 cents to beat the FactSet consensus of 14 cents