Shares of UiPath (NYSE: PATH) were moving higher today after the robotic process automation specialist reported better-than-expected preliminary third-quarter earnings results and announced another round of layoffs.

As of 9:39 a.m. ET, UiPath stock was up 16.2%.

First, UiPath, whose software makes bots that automate workflows, said it expected to report revenue of approximately $260 million for the third quarter, an increase of 18% from the quarter a year ago and ahead of estimates at $245.3 million.

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Source Fool.com