Dynatrace, Inc. (DT), a leading provider of security platforms for multicloud environments, saw its shares rise over 5% in pre-market trading on Wednesday, reaching $48.90. This spike followed the release of the company's fourth-quarter results, which surpassed Wall Street expectations.
On an adjusted basis, Dynatrace reported fourth-quarter earnings of $89.4 million, or $0.30 per share, exceeding the analysts' average estimate of $0.27 per share, as surveyed by Thomson-Reuters.
However, the company's net income for the quarter decreased to $37.94 million or $0.13 per share, down from $80.29 million or $0.27 per share in the same period last year.
Revenue for the fourth quarter experienced a 21% year-over-year increase, reaching $381 million. This growth was driven by a 23% rise in subscription revenue, totaling $360 million. Analysts had projected revenue to be around $375.28 million.
On Tuesday, Dynatrace shares closed at $46.43, representing a 1.11% increase. Over the past year, the stock has fluctuated between $43.29 and $61.41.
