By Ben Glickman
Shares of Braze rose Wednesday after the company’s third-quarter results outperformed estimates.
The stock was up 12% to $63 in after-hours trading, following a 1.2% drop at Wednesday’s close. Shares have more than doubled this year.
The New York-based cloud software company reported a 33% jump in revenue in the quarter ended Oct. 31, topping analysts’ expectations as polled by FactSet and Braze’s guidance.
The company’s adjusted loss was narrower than expected as well as the company’s customer count grew.
Braze lifted its full-year guidance for revenue and said it now expects a narrower adjusted loss for the full fiscal year.
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