Zuora Shares Trade Higher On Q2 Beat, Q3 Outlook Above Consensus

Zuora Inc ZUO shares traded higher by 7.77% at $17.62 in the market session on the last check Thursday.
The cloud-based software provider reported second-quarter FY22 revenue growth of 15% year-on-year to $86.5 million, beating the analyst consensus of $83.4 million.
Subscription revenue jumped 23% Y/Y to $71.5 million.
Customers with ACV equal to or greater than $100,000 rose 8% Y/Y to 694.
Customer usage of Zuora solutions grew with $18.0 billion in transaction volume through Zuora's billing platform, up 42% Y/Y.
Non-GAAP EPS loss of $(0.04) was in line with the consensus.
Zuora held $200.9 million in cash and equivalents.
Outlook: Zuora sees Q3 revenue of $86 million - $87 million, above the consensus of $85.4 million, Q3 Non-GAAP EPS loss of $(0.03) - $(0.02) below the consensus loss of $(0.01).
The company sees FY22 revenue of $340 million - $342 million above the consensus of $338.2 million, non-GAAP EPS loss between $(0.13) - $(0.11) below the consensus loss of $(0.09).

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