Braze Shares Up 4% on Q1 Beat and Raised Guidance By Investing.com

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© Reuters. Braze (BRZE) Shares Up 4% on 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). Revenue grew 61.9% year-over-year to $77.5 million, beating the consensus estimate of $72.57 million, driven primarily by new customers, upsells, and 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.”

The company expects Q2/23 EPS to be in the range of ($0.19)-($0.20), compared to the consensus estimate of ($0.21), and revenue in the range of $80.5-81.5 million, compared to the consensus estimate of $80.13 million.

The company expects the full 2023-year EPS to be in the range of ($0.78)-($0.82), compared to the consensus estimate of ($0.83), and revenue in the range of $345-349 million, compared to the consensus estimate of $340.29 million.

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