NetSuite Adj. Profit In Line With Estimates, Revenue Beats

(RTTNews) - NetSuite Inc (N) on Thursday reported second-quarter net loss of $32.3 million or $0.41 per share compared with a loss of $23.2 million or $0.31 per share last year.

Excluding stock-based compensation expense and other one-time items, adjusted earnings for the quarter were $0.02 per share compared with earnings of $0.06 per share a year ago.

Revenues for the quarter were up 35% at $177.3 million compared with $131.8 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.02 per share on revenues of $172.2 million for the quarter. Analysts' estimates typically exclude special items.

Operating expenses for the quarter increased to $154 million from $109.2 million a year ago.

NetSuite, based in San Mateo, California, provides cloud-based financials/enterprise resource planning and omnichannel commerce software suites.