Why Yext Stock Is Trading Higher After Hours

Yext Inc YEXT shares are trading higher in Wednesday's after-hours session after the company reported better-than-expected financial results.

Yext said fiscal 2023 first-quarter revenue increased 7% year-over-year to $98.8 million, which beat the estimate of $96.75 million, according to data from Benzinga Pro. The company reported a quarterly earnings loss of 6 cents per share, which beat the estimate for a loss of 7 cents per share. 

Yext expects fiscal second-quarter revenue to be between $99 million and $100 million. The company said it expects to lose 5 to 6 cents per share in the second quarter. 

Full-year revenue is expected to be between $399.3 million and $403.3 million. The company expects to lose between 10 and 12 cents per share for the year.

Yext leverages AI to collect and organize a company's information and deliver it, in the form of answers, to customers, employees and partners.

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YEXT Price Action: Yext shares have traded between $15.17 and $4.26 over a 52-week period.

The stock was up 5.17% in after hours at $5.70 at press time.

Photo: courtesy of Yext.