SentinelOne (S) on Thursday reported a smaller-than-expected loss for the second quarter, while revenue beat Wall Street targets. SentinelOne stock jumped on the news.
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For the quarter ended July 31, SentinelOne reported an adjusted loss of 8 cents a share vs. a 20-cent loss a year earlier. Also, the earnings report showed revenue rose 46% to $149.4 million.
SentinelOne stock analysts expected the Mountain View, Calif.-based company to report revenue of $141 million and a loss of 14 cents a share.
For the current quarter ending in October, SentinelOne predicted revenue of $156 million vs. estimates of $154.2 million.
On the stock market today, SentinelOne stock surged 11.7% to 18.57 in extended trading.
SentinelOne Stock: Wiz Talks Ended
The cybersecurity firm’s results came in amid lowered financial expectations. Also, its first-quarter sales growth missed estimates and the company issued a weak outlook amid accounting issues.
SentinelOne stock had gained 11% in 2023 prior to the earnings report. Shares rebounded in early August amid reports that well-funded, fast-growing security startup Wiz was weighing a potential bid for SentinelOne. SentinelOne on Wednesday said it has ended a marketing collaboration with Wiz.
Further, SentinelOne’s software detects malware on laptops, mobile phones and other “endpoints” that access corporate networks. Also, it’s building a broad, threat-detection cybersecurity platform.
SentinelOne stock holds a weak Composite Rating of 34 and a Relative Strength Rating of 19.
Follow Reinhardt Krause on Twitter @reinhardtk_tech for updates on 5G wireless, artificial intelligence, cybersecurity and cloud computing.
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