Dynatrace Rises In Pre-market On Improved Quarterly Results Better Than View

(RTTNews) - Shares of Dynatrace, Inc. (DT), provider of a security platform for multicloud environments, were rising more than 5 percent in pre-market on Wednesday to $48.90, after reporting better-than-expected fourth-quarter results, better than the Street estimates.

On an adjusted basis, the company posted earnings of $89.4 million or $0.30 per share for the fourth quarter, that beat the average estimate of $0.27 per share by analysts polled by Thomson-Reuters.

Net income for the quarter, however, declined to $37.94 million or $0.13 per share from $80.29 million or $0.27 per share in the year-ago quarter.

Revenue for the fourth quarter increased 21 percent year-on-year to $381 million on subscription revenue growth of 23 percent to $360 million. The consensus estimate was for $375.28 million.

Dynatrace shares had closed at $46.43, up1.11 percent on Tuesday. The stock has traded in the range of $43.29 - $61.41 in the last 1 year.