Cornerstone OnDemand revealed its fourth quarter monetary outcomes on Tuesday, handily topping the market’s expectations. The expertise administration software program supplier posted a web earnings of $1.6 million, or two cents per share. Non-GAAP earnings had been 64 cents a share on income of $206.9 million, up 38% yr over yr.
Wall Street was anticipating earnings of 27 cents per share on a income of $196 million.
Subscription income for the fourth quarter of 2020 was $197.9 million. For the total yr of 2020, non-GAAP web earnings per share got here to $1.78 on income of $740.9 million. Subscription income was $705.2 million.
For Q1, Cornerstone OnDemand expects income between $203 million and $205 million, above consensus for $201 million. For the fiscal yr 2021 the corporate expects income between $847 million and $857 million, which is nicely above estimates. Shares of Cornerstone had been up greater than 10% after hours.
“Our monetary outcomes symbolize a robust end to 2020, and I’m happy with our accomplishments as a staff,” stated Cornerstone CFO Chirag Shah. “After a yr wherein we accomplished a serious acquisition, navigated a pandemic, transitioned management, and initiated vital inner transformation, we consider our fourth quarter efficiency is indicative of the energy of this firm’s alternative, and we’re assured that the steps taken over the previous yr will place us for sustained long-term success.”
