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Cramer explained what to make of New Relic's latest quarterly earnings report.
Cramer spoke with New Relic CEO Bill Staples on Thursday.
Earnings reactions thus far in 2023 have been largely positive. Positive earnings often can provide follow on entries in the form of breakaway gaps.
The company is adding a lot of new customers during a challenging time.
New Relic, Inc. (NYSE:NEWR ) Q3 2023 Earnings Conference Call February 7, 2023 5:00 PM ET Company Participants Ingo Friedrichowitz – Senior Vice President of Investor Relations and Corporate Finance Bill Staples – Chief Executive Officer David Barter – Chief Financial Officer Conference Call Participants Fred Lee – Credit Suisse Sanjit Singh – Morgan Stanley Erik Suppiger – JMP Securities Richard Poland – RBC Taz Koujalgi – Wedbush Securities Mike Cikos – Needham and Company Yun Kim – Loop Capital Markets Kingsley Crane – Canaccord Genuity Michael Turits – KeyBanc Operator Good afternoon. My name is Matt, and I'll be your conference operator today.
New Relic (NEWR) delivered earnings and revenue surprises of 100% and 3.07%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?
Shares of New Relic Inc. NEWR, +1.48% were surging more than 14% in after-hours action Tuesday after the company topped expectations with its latest results and delivered an upbeat forecast. The software company, which lets companies store and analyze data, generated a fiscal third-quarter net loss of $26.0 million, or 38 cents a share, compared with a loss of $62.7 million, or 96 cents a share, in the year-before quarter.
New Relic stock soared late Tuesday after the data analytics company reported quarterly results that soundly beat estimates. The post New Relic Quarterly Results Beat Estimates On Top, Bottom Lines appeared first on Investor's Business Daily.
Shares of New Relic have fallen nearly 50% over the past year. The company has been successful at driving high teens/low 20s growth through its freemium business model.
After increasing its hold on New Relic Inc. ( NEWR , Financial) over the past several quarters and even gaining board seats, Jana Partners (Trades, Portfolio) revealed last week it curbed its investment by 8.99%.