Why PagerDuty Shares Are Surging After Hours

PagerDuty Inc PD shares are surging in Wednesday's after-hours session after the company reported better-than-expected financial results and issued guidance. 

PagerDuty said fourth-quarter revenue increased 32% year-over-year to $78.5 million, which beat the $76.08 million estimate. The company reported a quarterly earnings loss of 4 cents per share, which beat the estimate for a loss of 6 cents per share.

PagerDuty expects first-quarter revenue to be between $81.5 million and $83.5 million versus the $80.2 million estimate. The company expects to record an adjusted earnings loss between 8 and 9 cents per share versus the estimate for a loss of 6 cents per share. 

PagerDuty is a software company that offers on-call management.

PD 52-Week Range: $24.02 - $50.33

The stock was up 12.4% in after hours at $30.23 at press time.