By Kelly Cloonan
Shares of Clarivate climbed after the company beat Wall Street's expectations for revenue and adjusted earnings in the first quarter and maintained its full-year outlook.
The stock rose 15% to $4.12. Shares have declined 42% over the past 12 months.
The London company, which provides data, analytics and workflow solutions, on Tuesday posted a loss of $103.9 million, or 15 cents a share, for the quarter ended March 31, compared with a loss of $75 million, or 14 cents a share, a year earlier.
Stripping out one-time items, earnings per share were 14 cents, ahead of estimates of 12 cents a share according to analysts polled by FactSet.
Revenue fell to $593.7 million compared with $621.2 million a year earlier. Analysts expected $570.4 million.
Divestitures, disposals and foreign-currency-translation impacts drove the revenue decline, the company said, adding that organic revenues increased in the quarter.
For the full year, the company maintained its previous outlook, guiding for revenues of $2.28 billion to $2.4 billion and adjusted earnings per share of 60 cents to 70 cents.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
April 29, 2025 11:02 ET (15:02 GMT)
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