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CXM Stock: 11 Reasons Why Sprinklr Shares Are Surging Today

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Sprinklr (NYSE:CXM) stock is splashing higher on Friday following the software company’s earnings report for Q3 fiscal 2022.

The Sprinklr (CXM stock) logo on a smartphone sitting on a wood table.
The Sprinklr (CXM stock) logo on a smartphone sitting on a wood table.

Source: Piotr Swat / Shutterstock.com

Let’s go over the earnings report that has holders of CXM stock excited today below!

  • To begin with, the company’s adjusted losses per share came in at 6 cents.

  • That’s better than the -9 cents per share that Wall Street was expecting.

  • Even if it’s a negative switch from the company’s adjusted per-share earnings of 2 cents in the same period of the year prior.

  • The Sprinklr earnings report also includes revenue of $127.06 million for the quarter.

  • That’s another positive for CXM stock compared to analysts’ estimate of $118.1 million.

  • It also represents a 32% year-over-year from $96.3 million in Q3 fiscal 2021.

  • Sprinklr’s earnings also include strong guidance for its upcoming fourth quarter of fiscal 2022.

  • This has it expecting adjusted losses per share between 8 cents and 9 cents.

  • For the record, Wall Street’s estimate for the quarter is -9 cents per share.

  • The recent guidance also has CXM expecting revenue ranging from $129 million to $131 million.

  • That would have the company beating analysts’ estimates of $128.33 million even at the low end.

Ragy Thomas, founder and CEO of Sprinklr, said the following in the earnings report boosting CXM stock higher today.

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

“This is our fourth consecutive quarter of accelerating revenue growth and we couldn’t be more pleased with our team’s relentless focus on our customers. Sprinklr is well-positioned to become the strategic partner brands need to unify customer experiences across channels, teams, markets and products for a truly unified experience.”

CXM stock is up 15.5% as of Friday afternoon and is up 145.1% since the start of the year.

There’s more recent stock market news for traders to jump into below!

InvestorPlace houses all the latest stock coverage with our daily dives into the space. A few examples from Friday include what’s happening with AMC Entertainment (NYSE:AMC), MP Materials (NYSE:MP), and American Virtual Cloud Technologies (NASDAQ:AVCT) shares today. You can learn all about that at the following links!

More Friday Stock Market News

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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