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Larry Dignan, Andrew Nusca and Rachel King
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NetSuite Q3 better than expected

By | November 3, 2011, 1:35pm PDT

Summary: CEO Zach Nelson touted the company’s ability to drive “cloud-based ERP suites into large global enterprises.”

NetSuite reported strong third quarter results that beat expectations.

The company reported a third quarter net loss of $6.9 million, or 10 cents a share, on revenue of $61 million, up 23 percent from a year ago. Non-GAAP earnings were 5 cents a share, a penny ahead of Wall Street estimates.

In a statement, CEO Zach Nelson touted the company’s ability to drive “cloud-based ERP suites into large global enterprises” and said the outlook “bodes well” for the rest of the fiscal year and into 2012.

Subscription and support revenue in the third quarter was $51.3 million in the third quarter, up 23 percent from a year ago. Calculated billings were $63.8 million, up 33 percent from a year ago.

In recent quarters, NetSuite has worked to pitch larger enterprises as well as its core mid-sized companies.

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Revenue, NetSuite Inc., GAAP, Operational Accounting, Financial Accounting, Finance, Larry Dignan

Larry Dignan is Editor in Chief of ZDNet and SmartPlanet as well as Editorial Director of ZDNet's sister site TechRepublic.

Disclosure

Larry Dignan

Larry Dignan has nothing to disclose. He doesn’t hold investments in the technology companies he covers.

Biography

Larry Dignan

Larry Dignan is Editor in Chief of ZDNet and SmartPlanet as well as Editorial Director of ZDNet's sister site TechRepublic. He was most recently Executive Editor of News and Blogs at ZDNet. Prior to that he was executive news editor at eWeek and news editor at Baseline. He also served as the East Coast news editor and finance editor at CNET News.com. Larry has covered the technology and financial services industry since 1995, publishing articles in WallStreetWeek.com, Inter@ctive Week, The New York Times, and Financial Planning magazine. He's a graduate of the Columbia School of Journalism and the University of Delaware.

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