Zuora Slips 14% After Reporting Wider Loss In Q3

(RTTNews) - Shares of enterprise software company Zuora, Inc. (ZUO) are falling more than 14% Wednesday morning after reporting wider loss in the third quarter.

The company reported net loss of $37 million or $0.28 per share in the third quarter, compared with loss of $22.9 million or $0.18 per share in the same quarter a year ago.

Excluding one-time items, loss was $0.02 per share. The consensus estimate of analysts polled by Thomson-Reuters was for $0.06 loss per share.

Quarterly revenue increased 13% year-on-year to $101.1 million.

Looking forward to the fourth quarter, the company expects revenue in the range of $99.5 million-$101.5 million and loss per share in the range of $0.07-$0.06.

For the full year, revenue is expected between $392.5 million-$394.5 million and adjusted loss per share in the range of $0.16-$0.15.

ZUO, currently at $6.14, has traded in the range of $6.14-$20.43 in the last 1 year.