Cornerstone OnDemand notches Q2 sales surge

Cornerstone OnDemand notches Q2 sales surge

Summary: Bookings in the second quarter were up 55 percent from a year ago. Deferred revenue was up 57 percent.

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Cornerstone OnDemand, which makes talent management and HR software, reported a strong second quarter as sales were up 66 percent from a year ago.

The company reported a second quarter net loss of $8.7 million, or 17 cents a share, on revenue of $44.3 million, up 66 percent from a year ago. Cornerstone's non-GAAP loss was 7 cents a share.

Wall Street was expecting a loss of 6 cents a share on revenue of $42.08 million.

Cornerstone has benefited from consolidation in the HR software space. The company also has forged a partnership with Appirio.

In a statement, CEO Adam Miller said the quarter was strong and the company's wares are building momentum. Bookings in the second quarter were up 55 percent from a year ago. Deferred revenue was up 57 percent.

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Topics: Cloud, Enterprise Software

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