April 13, 2024

UiPath Inc PATH shares are buying and selling greater within the after-hours session Wednesday on the heels of the corporate’s second-quarter earnings report.

What To Know: UiPath posted quarterly earnings of 9 cents per share which beat the analyst consensus estimate of three cents, a 550% improve over losses of two cents per share from the identical interval final 12 months.

The corporate reported quarterly gross sales of $287.00 million which beat the analyst consensus estimate of $282.14 million, an 18.49% improve over gross sales of $242.22 million in the identical interval final 12 months.

The corporate additionally reported money circulate from operations reached $44 million and free money circulate reached $47 million and introduced a $500 million inventory repurchase program.

Third-quarter income is estimated to be between $313 million and $318 million, versus the $315.33 million estimate. Full-year 2024 income is anticipated to be between $1.273 billion and $1.278 billion, versus the $1.27 billion estimate.

“We delivered second quarter fiscal 2024 ARR progress of 25 % whereas executing on our strategic initiatives and driving operational excellence throughout the corporate,” stated Rob Enslin, UiPath co-CEO.

“I’m energized by the thrill round our steady investments in AI that are driving enterprise outcomes for our clients. Seeking to the second half of the 12 months, momentum is constructing throughout the enterprise as clients acknowledge the necessity for effectivity within the present working setting and the long-term structural benefits of automation.”

Associated Hyperlink: Why Tilray Inventory Is Buying and selling Decrease Right this moment

PATH Value Motion: Shares of PATH had been up 6.35% at $17.25 on the time of publication, based on Benzinga Professional.

Photograph: Christopher Kuszajewski from Pixabay

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