New Relic Inc
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Information Technology : Software | Small Cap Growth
Company profile

New Relic, Inc. provides an observability platform that enables its customers to plan, build, deploy, and operate their critical digital infrastructure. Its observability platform combines metrics, events, logs, traces, and other telemetry data with its stack of analytical tools to generate insights. The New Relic platform helps customers to manage their entire digital infrastructure stacks, including the front end, back end, infrastructure layer, vulnerabilities, and logs. The customers use its platform to identify issues, understand their root cause, and simplify the engineering process. Through its platform, all telemetry data, regardless of its source, is aggregated in one place and available to query, alert, visualize, and navigate with insightful analytics. The New Relic platform is used by IT operations professionals and also serves a range of engineers, including application developers, mobile developers, site reliability engineers, and network and other engineers.


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0.17 (0.20%)
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New Relic stock sinks as rumored acquisition target's forecast disappoints

4:44 pm ET May 23, 2023 (MarketWatch)

New Relic Inc. shares (NEWR) sank more than 7% in after-hours trading Tuesday, after the software company that is reportedly considering acquisition bids disappointed with its forecasts. In an earnings report delivered after the bell, New Relic executives predicted fiscal first-quarter revenue of $238 million to $240 million and annual sales of $1.02 billion to $1.03 billion, which would be the company's first billion-dollar annual revenue total. Analysts on average were expecting more, though: according to FactSet, the average analyst forecast called for first-quarter sales of $251.3 million and full-year revenue of $1.07 billion. New Relic's stock received a bounce last week, when a report said that private-equity firms were seeking to acquire the San Francisco company for $5 billion. No mention of a possible sale appeared in the company's announcement Tuesday; executives were expected to speak in a conference call scheduled to begin at 5 p.m. Eastern time. For the fiscal fourth quarter, New Relic outperformed expectations, reporting a loss of $57.2 million, or 83 cents a share, on sales of $242.5 million, up from $205.8 million a year ago. After adjusting for stock compensation, restructuring charges and other costs, the company reported earnings of 42 cents a share, up from an adjusted loss of 24 cents a share a year ago. Analysts on average expected adjusted earnings of 22 cents a share on sales of $241.1 million, according to FactSet. After closing with a 1.2% decline to $82.51 in the regular session, shares dove lower than $77 in extended trading. New Relic shares have gained more than 70% in the past year, as the S&P 500 has increased 5.5%.

-Jeremy C. Owens

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.


(END) Dow Jones Newswires

May 23, 2023 16:44 ET (20:44 GMT)

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