Shares of Tenable Holdings (NASDAQ: TENB) rose as much as 12.3% early Wednesday before closing the trading day at 5.3% after the cybersecurity company announced strong fourth-quarter 2023 results.

For the quarter ending Dec. 31, Tenable's quarterly revenue grew 16% year over year to $213.3 million, translating to adjusted non-GAAP (generally accepted accounting principles) earnings of $30.2 million, or $0.25 per share. On average, analysts were only modeling earnings of $0.14 per share on revenue of $206.7 million.

Tenable chairman and CEO Amit Yoran credited customers' interest in cloud and identity solutions within the company's Tenable One exposure management platform. “We delivered a strong Q4, including better-than-expected results on the top and bottom line,” he said in a press release.

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Source Fool.com