Why Shares of Anaplan Surged Today

Shares of Anaplan (NYSE: PLAN) jumped on Thursday after the software-as-a-service provider reported its third-quarter results. Revenue and earnings beat expectations, and the company raised its outlook for the full year. The stock was up about 7.8% at 12:30 p.m. EST, after being up as much as 13.3% earlier in the day.

Anaplan reported third-quarter revenue of $89.4 million, up 44% year over year and about $2.9 million higher than the average analyst estimate. Subscription revenue was $79.7 million, up 47%. The company's dollar-based net expansion rate, which measures how much revenue is generated from existing customers, was a healthy 123%.

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Source Fool.com