NetSuite Q1 strong amid mixed tech earnings bag

NetSuite fared well in the first quarter, but earnings from Juniper and Western Digital highlighted a mixed environment.

NetSuite reported strong first quarter results, but other earnings were mixed amid tech companies.

The cloud ERP provider reported a first quarter net loss of $29.7 million, or 37 cents a share, on revenue of $216.6 million, up 31 percent from a year ago. Non-GAAP first quarter earnings were 11 cents a share.

Wall Street was looking for non-GAAP first quarter earnings of 3 cents a share on revenue of $213.3 million.

NetSuite said subscription and support revenue for the quarter was $173.33 million and services sales were $43.24 million.

Among other tech earnings:

  • Western Digital reported fiscal third quarter earnings of $74 million, or 32 cents a share, on sales of $2.8 billion, down from $3.5 billion a year ago. Non-GAAP earnings were $1.21 a share. The company said the storage market has been volatile amid shifts to mobile devices and the cloud. Wall Street was looking for non-GAAP earnings of $1.29 a share.
  • Juniper reported first quarter earnings of $91.4 million, or 23 cents a share, on revenue of $1.01 billion, up 3 percent from a year ago. Non-GAAP earnings for the quarter were 37 cents a share. Juniper had already issued a profit warning. Juniper said it was confident in its product roadmap and taking a conservative approach to managing its business.
  • Qlik, which competes with Tableau in the visual analytics market, reported a first quarter net loss of $27 million, or 29 cents a share, on revenue of $138 million, up 15 percent from a year ago. Non-GAAP net loss for the first quarter was 9 cents a share.