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Investing.com – Qualtrics (NASDAQ:XM) stock rose 3% Wednesday as the company revised its annual guidance for the second time while reporting second quarter numbers that beat estimates.
The company expects 2021 total revenue to come between $1.007 billion and $1.011 billion. Diluted adjusted earnings per share is seen flat to a 2 cent loss per share.
The company had in April guided diluted adjusted loss per share of 13 cents to 11 cents on $980 million to $984 million revenue.
It had revised its guidance in April after giving it first in March.
Qualtrics makes software that helps companies engage better with their consumers and employees.
The company’s total revenue for the second quarter was $249.3 million, up from $181 million in the quarter year ago.
While revenue rose 38%, operating expenses soared 79%, mainly on account of general and administrative costs that more than trebled. Research and development expenses rose too while sales and marketing costs increased negligibly.
As a result, net loss more than doubled to $263.5 million from $127.5 million.
