• December 10, 2023

Qualys stock rallies as results, outlook beat Street

Qualys Inc. stocks rose in Wednesday’s expanded session after the cloud security company’s results and prospects surpassed Wall Street’s expectations.

QLYS, -0.53%
Shares were up 11% on the hour after the regular session fell 0.5% to close at $ 94.38.

The company reported net income of $ 228,000, or one cent per share, for the first quarter as its former CEO Philippe Courtot, who recently resigned on health grounds, accelerated the allotment of shares. That compares to $ 18.7 million, or 46 cents per share, for the same period last year. Adjusted earnings were 74 cents per share compared to 65 cents per share in the same quarter of the previous year.

Revenue increased to $ 96.8 million from $ 86.3 million in the year-ago quarter. Analysts polled by FactSet had forecast a profit share of 68 cents per share of sales of 95.2 million US dollars.

In a statement, Qualys CEO Sumedh Thakar said the continued adoption of the company’s vulnerability management, detection and response application “remains a strategic driver” for the company’s long-term growth.

Qualys expects for the second quarter a profit of 67 to 69 cents per revenue share of 98.6 to 99.2 million US dollars, while analysts had forecast a profit of 65 cents per revenue share of 97.9 million US dollars.

For the year, the company expects earnings of $ 2.67 to $ 2.72 per revenue share of $ 402.5 million to $ 404.5 million, while analysts expect revenue share of $ 2.65 to $ 400.5 million forecast.

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