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Pagerduty Soars on Revising Guidance Again as Q2 Revenue Up 33%

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By Dhirendra Tripathi

Investing.com – Pagerduty stock (NYSE:PD) climbed more than 10% Friday as the company raised its guidance one more time following a 33% jump in its second-quarter revenue to $67.5 million.

The company it grabbed market share as demand came from enterprises and mid-market segments for its automation offering and digital operations solution. It closed the quarter with nearly 18,000 customers compared to over 16,800 at the end of June.

Notable customers include General Electric Company (NYSE:GE), Cisco (NASDAQ:CSCO), Netflix (NASDAQ:NFLX), Shopify (NYSE:SHOP), Zoom and Lululemon Athletica Inc (NASDAQ:LULU).

The company now sees its annual revenue at $274.5 million at midpoint, around 2% higher from the previous estimate given in June.

The adjusted loss per share was 13 cents, compared to 4 cents a share a year ago. Analysts forecast a loss of 15 cents a share. Revenue was ahead of analysts’ estimate, which had called for $65.6 million.

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