Kenexa Shares Popped: What You Need to Know
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 Kenexa (NAS: KNXA) have popped by 15% earlier today after the company reported quarterly earnings last night.
So what: The provider of human resources business solutions showed third-quarter revenue of $75.7 million, while earnings per share came in at $0.23. Both revenue and profit topped the consensus estimates of $73.7 million in sales and $0.20 earnings per share.
Now what: Kenexa CEO Rudy Karsan said the results were better than the company's internal expectations and reflect the "building momentum of Kenexa's unique value proposition in the market place." The company expects fourth-quarter revenue to be between $74.7 million and $76.7 million, and full-year revenue to be in the range of $279.4 million to $281.4 million. The company also added more than 60 "preferred partner" customers during the quarter, who spend more than $50,000 annually.
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