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Braze Shares Up 4% on Q1 Beat and Raised Guidance -Breaking


© Reuters. Braze shares rise 4% after Q1 Beat and Raised Guidance

By Davit Kirakosyan

Braze Inc (NASDAQ:) shares rose more than 4% after-hours following the company’s reported Q1 results, with EPS of ($0.19) coming in better than the consensus estimate of ($0.21). The revenue grew by 61.9% to $77.5million year-over-year, surpassing the consensus estimate at $72.57 million. This was primarily due to new customers and upsells as well as renewals.

“We are off to a great start to fiscal 2023 with the first quarter demonstrating robust demand for the Braze Customer Engagement Platform,” said Bill Magnuson, cofounder and CEO of Braze. “Given our strong momentum, we are raising our 2023 outlook and remain committed to delivering best-in-class customer engagement at scale, while running our business with discipline and efficiency.”

According to company estimates, Q2/23 earnings per share will be between $0.19 0.20 and $80.5-81.5million, as opposed to $80.13million.

According to company estimates, the 2023 year EPS will be between ($0.78 0.82) and $345-349 millions, as opposed to $340.29million.