Why Marketo Shares Skyrocketed
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Marketo have skyrocketed today by as much as 25% after the company reported earnings.
So what: Revenue in the second quarter totaled $22.5 million, which translated into a non-GAAP net loss of $0.49 per share. Both figures were dramatic improvements from a year ago, when Marketo generated sales of $13.9 million for an adjusted net loss of $3.30 per share.
Now what: CEO Phil Fernandez said the company "hit on all cylinders" in its first quarter as a public company. Marketo's guidance also impressed investors, with third-quarter sales expected in the range of $23 million to $24 million. Full-year revenue should be $89 million to $91 million. Both revenue forecasts were higher than consensus estimates.
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The article Why Marketo Shares Skyrocketed originally appeared on Fool.com.Fool contributor Evan Niu, CFA, has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.