Domo Shares Down Despite Improved Results

(RTTNews) - Shares of Domo, Inc. (DOMO), a cloud-based platform operator, are falling more than 15% Friday morning despite reporting improved quarterly results.

The company reported a loss of $24.4 million or $0.69 per share for the first quarter, narrower than $32.89 million or $0.99 per share loss in the same quarter a year ago.

Excluding one-time items, loss was $6.1 million or $0.17 per share, which is in line with the consensus estimate.

Total revenue was $79.45 million, an increase of 7% year over year.

DOMO is at $12.52 currently. It has traded in the range of $11.35 - $35.43 in the last 1 year.