Shares in Sprinklr wavered Thursday on fourth-quarter earnings and revenue that topped estimates. The social media marketing specialist's guidance for Sprinklr stock came in mixed amid investments.
The software maker reported earnings after the market close on Wednesday. Sprinklr earnings for its first quarter were 12 cents a share, up 100% from the year-earlier period. Revenue climbed 18% to $194.2 million, the New York-based software maker said.
Analysts expected Sprinklr earnings of 9 cents a share on revenue of $188.7.
Sprinklr Stock Outlook Mixed
Sprinklr stock initially popped, then reversed down on the stock market today. Shares dipped 1.6% to 12.80 in morning trades.
For the current April quarter, Sprinklr predicted profit of 7 cents a share on revenue of $194.5 million at the midpoint of its outlook. Analysts had predicted profit of 8 cents a share on revenue of $193.2 million.
Sprinklr helps companies manage their digital identities — in advertising, marketing, research and on social media. Sprinklr uses artificial intelligence tools in its cloud-based Customer Experience Management platform. Also, Sprinklr provides a self-serve ad-buying platform and measurement tools.
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HubSpot A Sprinklr Rival
"While Sprinklr has a lot to prove on the execution front over the next couple quarters, we are optimistic on some of the steps the company is taking and the leading indicators to end the year," said William Blair analyst Arjun Bhatia in a report.
"As the company gets its go-to-market plan back on track, we see potential for Sprinklr to return to be a midteens grower, which, if executed properly, should help the company regain investor confidence in the story."
Meanwhile, backed by private equity firm Hellman & Friedman, Sprinklr in June 2021 launched an initial public offering that raised $266 million.
Heading into the earnings report, Sprinklr stock had gained 8% in 2022.
Also, Sprinklr customers include Microsoft and Roche. HubSpot is a rival.
Follow Reinhardt Krause on X, formerly Twitter, @reinhardtk_tech for updates on artificial intelligence, cybersecurity and cloud computing.
