New Relic: Q1 Earnings Insights

New Relic NEWR reported its Q1 earnings results on Thursday, August 4, 2022 at 04:05 PM.

Here's what investors need to know about the announcement.

New Relic beat estimated earnings by 27.78%, reporting an EPS of $-0.26 versus an estimate of $-0.36.

Revenue was up $35.98 million from the same period last year.

Last quarter the company missed on EPS by $0.03 which was followed by a 2.55% drop in the share price the next day.

Here's a look at New Relic's past performance:

Quarter	Q4 2022	Q3 2022	Q2 2022	Q1 2022
EPS Estimate	-0.21	-0.15	-0.13	-0.37
EPS Actual	-0.24	-0.18	-0.10	-0.25
Revenue Estimate	204.52M	200.49M	182.21M	172.03M
Revenue Actual	205.75M	203.59M	195.69M	180.48M

New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).

New Relic management provided guidance for FY 2023, expecting earnings between $0.1 and $0.17 per share.

To track all earnings releases for New Relic visit their earnings calendar here.

This article was generated by Benzinga's automated content engine and reviewed by an editor.