Shares of Tenable Holdings (TH) are seeing a significant boost in midday trading following the company’s impressive second-quarter performance and optimistic projections for Q3. The stock has surged by 8%, with a current trading price of $47.32, marking an impressive 25% increase since the beginning of the year.
Tenable, a leading cyber exposure management firm, reported a reduced loss of $16 million, or 14 cents per share, in comparison to a loss of $27.5 million, or 25 cents per share, during the same quarter the previous year. After adjusting for one-time expenses, earnings stood at 22 cents per share, surpassing the 13 cents per share projected by analysts polled by FactSet.
Furthermore, the company’s revenue soared to $195 million, up from $164.3 million in the previous year, outperforming analyst predictions of $190.3 million (according to FactSet).
Optimistic about the future, Tenable expects revenue for Q3 to range between $197 million and $199 million, surpassing previous forecasts of $195.8 million. Additionally, adjusted earnings are projected to be in the range of 18 to 19 cents per share, rising above prior analyst estimates of 16 cents per share.
These notable achievements highlight Tenable’s strong market position and reinforce their commitment to delivering excellent results for its shareholders.