Here's Why Qualtrics Stock Jumped This Morning
Shares of Qualtrics International (NASDAQ: XM) jumped on Thursday morning after the enterprise software company reported full-year financial results for 2022. The numbers were better than what many analysts had projected, and that's why the stock was up 28% as of 10:40 a.m. ET.
Businesses use Qualtrics to hear from stakeholders like customers and employees, organize their input, and make changes to improve their experience. The company's full-year 2022 revenue was almost $1.5 billion, up an encouraging 36% from 2021.
Investors are also encouraged by Qualtrics' shrinking net loss. In the fourth quarter of 2022, the company's net loss was $256 million, which is enormous in absolute terms considering Q4 revenue was only $389 million. However, this was a sharp improvement from its net loss of $310 million in the prior-year quarter.
Source Fool.com
