By Katherine Hamilton
Braze increased its guidance for the year after posting a narrower loss and higher revenue in the third quarter.
The customer-engagement platform company on Monday posted a loss of $27.9 million, or 27 cents a share, in the three months ended October 31, compared with a loss of $30.7 million, or 31 cents a share, for the same period last year.
Stripping out one-time items, the company reported a profit of 2 cents a share. Analysts polled by FactSet expected a loss of a penny a share.
Revenue rose 23% to $152.1 million, above the $148.2 million expected by analysts polled by FactSet. Braze had guided for $147.5 million to $148.5 million in third-quarter revenue.
The New York-based company upped its adjusted per-share guidance for the current year to between 10 cents to 11 cents, up from its previous view for between 6 cents to 7 cents. It is now expecting revenue between $588 million to $589 million, up from its prior view for between $582.5 million to $585.5 million.
For the fourth quarter, Braze forecast adjusted per share earnings between 5 cents and 6 cents and revenue between $155 million and $156 million. Analysts were looking for adjusted earnings of 4 cents a share and revenue of $155.2 million.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
December 09, 2024 17:00 ET (22:00 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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