NetSuite Reports Better Than Expected Earnings (N)

NetSuite Inc.

reports Q3 earnings of $0.04 versus consensus of $0.03. NetSuite Inc. reports revenues of $49.7 million versus consensus of $48.54 million. "It was another great quarter at NetSuite, and our record results and raised outlook reinforce that customers are running to the NetSuite Cloud from pre-Web applications like Microsoft Dynamics Great Plains. We are hitting the tipping point as traditional, inflexible mid-market ERP approaches are thrown out in favor of NetSuite's modern cloud-based approach to running a business," said Zach Nelson, CEO of NetSuite. "We are again raising our 2010 outlook for revenue, operating cash flow and non-GAAP net income based on the accelerating adoption of NetSuite's cloud computing applications by enterprises around the world." At last check, shares of NetSuit were down 82 cents to $20.70‎, a loss of 3.81%‎.