Jan 31 Business software maker NetSuite Inc
posted better-than-expected quarterly results, helped by a
26 percent rise in subscription and support revenue, sending
shares up 7 percent after the bell.
NetSuite, which is majority owned by Oracle Corp
Chief Executive Larry Ellison, makes web-based software for
small and mid-sized businesses to manage their networks and
customer-relationship management tools.
The company reported a net loss of $9.6 million, or 13 cents
per share, in the fourth quarter, compared with a net loss of
$7.6 million, or 11 cents per share, a year earlier.
Excluding items, NetSuite earned 6 cents per share. Revenue
rose 33 percent to $85 million.
Analysts on average had expected earnings of 4 cents per
share on revenue of $83 million, according to Thomson Reuters
Shares of the San Mateo, California-based company closed at
$70.23 on Thursday on the New York Stock Exchange.