NetSuite tops Q4 targets, revenue up 33 percent
Tech Earnings
ERP provider NetSuite reported earnings and revenue Thursday after the bell, and the results were slightly higher than analyst expectations.
The San Mateo-Calif.-based company posted a fourth quarter net loss of $32.4 million, or 41 cents a share, on revenue of $206.2 million.
Non-GAAP earnings for the first quarter were five cents per share.
Wall Street was expecting non-GAAP first quarter earnings of 4 cents a share on revenue of $205 million.
For 2015, NetSuite reported a net loss of $124.7 million, or $1.59 per share. Total revenue for the year was $741.1 million, topping analyst estimates of $739.43 million.
In prepared remarks, NetSuite CEO Zach Nelson credited the company's revenue win to, of course, the cloud. He also touted several key customer acquisitions for the year, including Snapchat, Lucky Brand, and American Express Global Business Travel.
What Nelson did not address, however, are the company's losses, which climbed substantially. NetSuite tacked on an additional $27 million in losses for 2015 compared to the year prior.