Domo Reports Smaller-than-Expected Quarterly Loss
Cloud-software company Domo, Inc. (DOMO) reported a smaller-than-expected loss in fiscal Q1 fueled by top-line growth. Shares rose 1.3% to close at $66.50 on May 28.
The company reported an adjusted loss of $0.26 per share, compared to the loss of $0.65 per share recorded in the prior-year quarter. Analysts had expected a loss of $0.43 per share.
Revenue for the quarter surged 24% year-over-year to $60.06 million, surpassing the Streets estimates of $57.49 million.
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