Why Braze Shares Are Rising

Braze Inc BRZE shares are trading higher after the company reported better-than-expected third-quarter EPS and sales results and issued guidance.

Braze reported quarterly losses of 16 cents per share which beat the analyst consensus estimate of a loss of 63 cents per share. This The company reported quarterly sales of $64 million which beat the analyst consensus estimate of $56.54 million by 13%. This is a 63% increase over sales of $39.30 million in the same period last year.

"Brands increasingly recognize that building direct relationships with customers through memorable and personalized experiences is essential for long-term success, and they're turning to Braze to succeed at that imperative," said Bill Magnuson, cofounder and CEO of Braze.

"Exemplary execution combined with strong demand allowed us to deliver outstanding third quarter results, demonstrating high growth at scale. We are in the early stages of addressing a large market opportunity in the customer engagement space, and we believe Braze can help all brands create valuable customer experiences that drive growth and retention," Magnuson stated.

See Also: Why Nike Shares Are Moving Higher Today

Braze has a 52-week high of $98.78 and a 52-week low of $55.73.