Refile: BUZZ-Qualtrics climbs on surprise Q3 profit, full-year outlook raise

Qualtrics International

25/10/2022 13:47

(Corrects to remove extraneous character in headline)
    ** Shares of Qualtrics International Inc  XM.O  jump 8.1% to
$11.33 after the business software company posts a surprise Q3
profit and raises outlook
    ** Co now sees FY22 adj EPS forecast to be between
$0.04-$0.05, compared to previous forecast of net loss in a
range of $0.07-$0.09
    ** Full year total rev outlook of $1.45 bln-$1.452 bln also
higher than Street estimates of $1.445 bln
    ** Reports Q3 adj EPS of $0.04 vs Refinitiv estimates of net
loss of $0.02; Rev of $377.53 mln also beats expectations of
$358.57 mln driven by 43% y-o-y rise in subscription rev to
$314.8 mln
    ** Co beat adj EPS estimates in 6 out of 9 quarters -
Refinitiv data
    ** However, at least six brokerages have cut PTs, expecting
macro uncertainty ahead
    ** Truist ("buy") lowers PT to $16 from $26; says PT cut
based on lower revenue growth and an overall challenging trading
environment for software companies
    ** J.P. Morgan ("overweight") says lower growth due to
delayed billings and stronger dollar may continue; cuts PT to
$16 from $19
    ** Up to Monday's close, stock had fallen 70.4% YTD
 (Reporting by Shristi  Achar A in Bengaluru)
 ((Shristi.AcharA@thomsonreuters.com;))