New Relic (NEWR) Tops Q2 EPS by 8c
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New Relic (NYSE: NEWR) reported Q2 EPS of ($0.09), $0.08 better than the analyst estimate of ($0.17). Revenue for the quarter came in at $63.4 million versus the consensus estimate of $61.93 million.
"New Relic is rapidly becoming the global enterprise standard for a new category of software we call Digital Intelligence. At the end of our second fiscal quarter, our base of customers spending more than one million dollars per year grew by over 100% year-over-year, and has increased more than tenfold since our IPO. And the number of New Relic customers spending more than $100,000 annually has grown almost threefold since our IPO," said Lew Cirne, founder and CEO, New Relic. “Next week at our annual FutureStack customer event, we will deliver our next major product offering, New Relic Infrastructure, which we believe will further accelerate our strategic position in the enterprise, and meaningfully expand our total addressable market.”
“We are pleased to deliver revenue and operating leverage improvement that exceeded our guidance for the second quarter,” said Mark Sachleben, CFO, New Relic. “At the same time GAAP and Non-GAAP gross margins reached record levels of 81% and 83%, respectively, and we generated positive cash from operations for the fourth consecutive quarter. As we look ahead, we believe New Relic is well positioned to continue generating rapid growth and delivering bottom line improvement as our subscription-based business model scales.”
For earnings history and earnings-related data on New Relic (NEWR) click here.
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