Samsara up on annual forecast raise, upbeat Q2 results

Samsara (Pre-Reincorporation)

01/09/2023 12:46

** Shares of cloud services firm Samsara Inc  IOT.N  up ~1%
at $27.50 before the bell
    ** Company raises full-year revenue and profit forecasts
    ** IOT expects fiscal 2024 total revenue to be between $896
mln and $900 mln, vs its prior forecast of $866 mln to $874 mln
    ** Company sees adj. EPS to be between $0.00 and $0.02,
compared with previous expectation of a loss of $0.02 to $0.00
    ** IOT's Q2 revenue rises 43% to $219.3 mln, topping
analysts' avg. est. of $207.5 mln - Refinitiv
    ** Also posts surprise Q2 adjusted profit per share of 1
cent, compared with expectations for a loss of 2 cents
    ** Up to Thursday's close, stock has more than doubled so
far this year

 (Reporting by Ananya Mariam Rajesh in Bengaluru)
 ((AnanyaMariam.Rajesh@thomsonreuters.com ; Twitter: https://twitter.com/AnanyaMariam))