Why Qualtrics Stock Is Surging After Hours

Qualtrics International Inc XM shares are trading higher in Monday's after-hours session after the company announced better-than-expected financial results.

Qualtrics said third-quarter revenue increased 39% year-over-year to $377.53 million, which beat average analyst estimates of $358.57 million, according to Benzinga Pro. The company reported quarterly adjusted earnings of 4 cents per share, which beat average estimates for a loss of 2 cents per share.

Qualtrics expects fourth-quarter revenue to be between $380 million and $382 million versus average analyst estimates of $373.14 million. The company expects fourth-quarter earnings to be between 2 and 3 cents per share versus average estimates for a loss of 1 cents per share.

Qualtrics sees full-year revenue between $1.45 billion and $1.452 billion versus average analyst estimates of $1.42 billion. The company expects full-year earnings to be between 4 and 5 cents per share versus the estimate for a loss of 7 cents per share.

Qualtrics aims to change the way organizations manage and improve the four core experiences of business, customer, employee product, and brand.

XM Price Action: Qualtrics has a 52-week high of $35.89 and a 52-week low of $9.32.

The stock was up 9.16% in after-hours at $11.44 at the time of publication.

Photo: Pexels from Pixabay.