Dynatrace Trims FY23 Outlook; Q1 Results Top Estimates
(RTTNews) - While reporting financial results for the first quarter on Wednesday, software intelligence provider Dynatrace, Inc. (DT) trimmed its adjusted earnings and revenue guidance for the full-year 2023. It also provided outlook for the second quarter.
For the second quarter, the company projects adjusted earnings in the range of $0.18 to $0.19 per share on total revenues between $272 million and $275 million.
On average, 16 analysts polled by Thomson Reuters expect the company to report earnings of $0.19 per share on revenues of $278.75 million for the quarter. Analysts' estimates typically exclude special items.
Looking ahead to fiscal 2023, the company now projects adjusted earnings in a range of $0.73 to $0.76 per share on total revenues between $1.125 billion and $1.136 billion.
Previously, the company expected adjusted earnings in the range of $0.73 to 0.77 per share on total revenues between $1.142 billion and $1.158 billion.
The Street is looking for earnings of $0.77 per share on revenues of $1.17 billion for the year.
For the first quarter, the company reported net income of $2.11 million or $0.01 per share, down from $13.29 million or $0.05 per share in the prior-year quarter. Excluding items, adjusted net income were $0.18 per share, compared to $0.16 per share in the year-ago quarter.
Total revenue for the quarter increased to $267.27 million from $209.74 million in the same quarter last year.
Analysts expected earnings of $0.17 per share on revenues of $261.92 million for the quarter.
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