Close Menu
  • Homepage
  • Local News
  • India
  • World
  • Politics
  • Sports
  • Finance
  • Entertainment
  • Business
  • Technology
  • Health
  • Lifestyle
Facebook X (Twitter) Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA
Facebook X (Twitter) Instagram Pinterest
JHB NewsJHB News
  • Local
  • India
  • World
  • Politics
  • Sports
  • Finance
  • Entertainment
Let’s Fight Corruption
JHB NewsJHB News
Home»Finance»Asana stock soars 24% as software company cites improving path to profitability
Finance

Asana stock soars 24% as software company cites improving path to profitability

March 9, 2023No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Asana stock soars 24% as software company cites improving path to profitability
Share
Facebook Twitter LinkedIn Pinterest Email

Asana Inc. on Wednesday reported and forecast narrower-than-expected losses, saying the figures mirrored a firmer path to profitability, and its inventory skyrocketed in after-hours buying and selling.

The project-management software program supplier — whose chief government is a co-founder of Meta Platforms Inc.’s
META,
+0.25%
Fb — forecast first-quarter gross sales of $150 million to $151 million, with an adjusted web lack of between 18 cents and 19 cents a share. That’s higher than FactSet forecasts for a 23-cent per-share loss with income of $150.4 million.

For the complete 12 months, Asana
ASAN,
+1.83%
mentioned it expects income of between $638 million and $648 million, with an adjusted web lack of 55 cents to 59 cents. Analysts polled by FactSet anticipated a 79 cent-per-share loss, on gross sales of $645.8 million.

The corporate reported a fourth-quarter web lack of $95 million, or 44 cents a share. That compares with a lack of $90 million, or 48 cents a share, in the identical quarter final 12 months. Income rose 34% to $150.2 million, in contrast with $111.9 million in the identical quarter final 12 months.

Adjusted for stock-based compensation, restructuring and different prices, Asana misplaced 15 cents a share, in contrast with 25 cents a 12 months earlier.

Analysts polled by FactSet anticipated Asana to reported an adjusted lack of 27 cents a share, on income of $145.1 million.

Shares soared 24% after hours.

The corporate reported earnings as different workplace-oriented cloud-services platforms, like Salesforce Inc.
CRM,
-0.20%
and Workday
WDAY,
-1.69%,
cut back and lay off staff. The tech trade has tried to shrink, after hiring to satisfy digital demand introduced by the pandemic that later fizzled as COVID restrictions lifted.

Shares of Asana have fallen 60% over the previous two months. By comparability, the S&P 500 Index
SPX,
+0.14%
has misplaced 4.3% of its worth over that interval.

Source link

Asana cites company improving path profitability soars Software stock
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Broadridge Partners with Novisto to Launch Advanced Sustainability Reporting Platform

May 30, 2025

U.S.-China talks ‘stalled’ and need Trump and Xi to weigh in, Bessent says

May 30, 2025

Taiwan Semiconductor Manufacturing Company Limited (TSM) Slid due to Broader Market Correction

May 30, 2025

BMO’s Q2 earnings show no improvement in credit conditions for trucking

May 30, 2025
Add A Comment
Leave A Reply Cancel Reply

Editors Picks

Sherri Papini Declares She Didn’t Ask To Be Branded By Ex

May 30, 2025

Sensex, Nifty decline in early trade on selling in IT shares, sluggish Asian peers

May 30, 2025

Broadridge Partners with Novisto to Launch Advanced Sustainability Reporting Platform

May 30, 2025

Chhattisgarh High Court refuses to quash FIR against professors who ‘asked students to offer namaz’ | India News

May 30, 2025
Popular Post

Google adds Lens to the Google Site on Android

Explained: Why US flights were grounded by FAA?

BoE’s Pill: UK fiscal policy must not threaten credibility

Subscribe to Updates

Get the latest news from JHB News about Bangalore, Worlds, Entertainment and more.

JHB News
Facebook X (Twitter) Instagram Pinterest
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA
© 2025 Jhb.news - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.