Qualtrics reports first $1 billion fiscal year, driving up shares 10%

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Shares of Qualtrics International Inc. XM, -1.22% spiked 10% in extended trading Wednesday after the experience-management technology company reported fiscal fourth-quarter results. Qualtrics reported a net loss of $309.8 million, or 56 cents a share, compared with a net loss of $14.5 million, or 3 cents a share, in the year-ago quarter. The company reported an adjusted net loss of $39.4 million, or 7 cents a share. Revenue soared 48% to $316 million from $213.6 million a year ago. For the fiscal year, Qualtrics topped $1 billion for the first time. “Every company is becoming a digital company seeking a deeper connection with customers and employees,” Qualtrics Chief Executive Zig Serafin told MarketWatch. Analysts surveyed by FactSet had expected a net loss of 2 cents a share on revenue of $298 million. Qualtrics’ stock has plunged 31.5% this year, while the broader S&P 500 index SPX, -0.15% has slid 9%.

This article was originally published by Marketwatch.com. Read the original article here.

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