Why Appian's Shares Jumped Friday

Shares of Appian (NASDAQ: APPN) popped today after the company beat Wall Street's estimates in the third quarter. 

Shares of the tech stock were up by as much as 19.5% this morning and had gained 18.3% as of 12:19 p.m. EST. 

Appian reported third-quarter revenue of $77.3 million, which was an increase of 17% from the year-ago quarter and beat analysts' consensus revenue estimate by 9%. Additionally, the company's adjusted break-even earnings per share beat Wall Street's consensus estimate of a loss of $0.17 per share. 

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Source Fool.com