Alteryx Inc (NYSE:AYX) shares are trading higher in Monday's after-hours session after the company reported better-than-expected third-quarter financial results.

What To Know: Alteryx reported quarterly earnings of 29 cents per share, exceeding the analyst consensus estimate of losses of six cents, a 680% increase over losses of five cents per share from the same period last year.

Revenue clocked in above the analyst consensus estimate of $210.23 million at $232.00 million. The figure represented a 7.55% increase over sales of $215.71 million from the same period last year.

The company also ended the quarter with $914 million in ARR, an increase of 21% year-over-year.

Fourth-quarter revenue was estimated to be between $334 million and $340 million, a year-over-year increase of 11% to 13%. Full-year 2023 revenue was anticipated to be between $953 million and $959 million, representing year-over-year growth of 11% to 12%.

"Alteryx delivered a solid Q3, with key growth and profitability metrics exceeding our prior outlook, driven by improved execution and cost discipline," said Mark Anderson, CEO of Alteryx, Inc.

"Gross retention held at a healthy level as customers continued to demonstrate their commitment to the Alteryx Analytics Platform and we remain focused on the vision we have set forth with Alteryx AiDIN, our generative AI and machine learning technologies, as well as our growing portfolio of cloud-connected offerings."

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AYX Price Action: Shares of AYX were up 15.33% at $34.99 in the after-hours session at the time of publication, according to Benzinga Pro.

Photo: Innova Labs from Pixabay