Dynatrace Boosts FY24 Outlook; Q3 Results Top Estimates

(RTTNews) - While reporting financial results for the third quarter on Thursday, software intelligence provider Dynatrace, Inc. (DT) raised its adjusted earnings and revenue guidance for the full-year 2024. It also provided outlook for the fourth quarter.

For the fourth quarter, the company projects adjusted earnings in the range of $0.26 to $0.28 per share on total revenues between $372 million and $377 million.

On average, 26 analysts polled by Thomson Reuters expect the company to report earnings of $0.25 per share on revenues of $373.46 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2024, the company now projects adjusted earnings in a range of $1.16 to $1.18 per share on total revenues between $1.422 billion and $1.427 billion.

Previously, the company expected adjusted earnings in the range of $1.09 to $1.12 per share on total revenues between $1.409 billion and $1.419 billion.

The Street is looking for earnings of $1.11 per share on revenues of $1.42 billion for the year.

For the third quarter, the company reported net income of $42.69 million or $0.14 per share, down from $15.03 million or $0.05 per share in the prior-year quarter. Excluding items, adjusted net income were $0.32 per share, compared to $0.25 per share in the year-ago quarter.

Total revenue for the quarter increased 23 percent, or 21 percent on a constant currency basis, to $365.10 million from $297.46 million in the same quarter last year.

Analysts expected earnings of $0.28 per share on revenues of $358.06 million for the quarter.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com