NetSuite's second quarter better than expected

NetSuite on Thursday delivered second quarter financial results that were better than expected. The company also said it garnered higher prices.

The company reported a second quarter net loss of $5 million, or 8 cents a share, on revenue of $40.3 million, up 10 percent from a year ago. In the year ago quarter, NetSuite had a net loss of $3.1 million, or 5 cents a share.

Excluding items, NetSuite reported a second quarter non-GAAP profit of $687,000, or a penny a share. Wall Street was expecting NetSuite to break even.

In a statement, NetSuite CEO Zach Nelson said the company garnered more new customers the quarter at a higher average selling price.

Separately, NetSuite announced that Jollibee, a Filipino fast food chain, will implement the company's OneWorld Suite. Jollibee’s 1,800 restaurants around the world including the U.S., Vietnam and China. NetSuite said the Jollibee roll-out will be completed in August.