Guidewire Software Surges on Q3 Results

Shares of

were trading up sharply on Tuesday after the closing bell in the wake of the company's Q3 financial results. The company's earnings and revenue both came in ahead of Wall Street expectations and the stock was last up 7 percent to $43.60. For the third-quarter, Guidewire reported a net loss of $2.7 million or $0.05 per share, compared to net income of $3.1 million or $0.05 per share, in last year's corresponding period. On an adjusted basis, the company reported net income of $2.6 million or $0.04 per share, versus net income of $5.9 million or $0.10 per share, last year. This came in ahead of Wall Street consensus EPS estimates of $0.03. Revenue for the quarter rose 20 percent to $68.25 million from $57.01 million last year. This also came in ahead of analysts' consensus revenue estimates of $63.58 million.