Digital analytics platform Amplitude (NASDAQ: AMPL) will be reporting results this Wednesday after the bell. Here’s what investors should know.
Amplitude beat analysts’ revenue expectations last quarter, reporting revenues of $100.9 million, up 21.2% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ billings estimates and an impressive beat of analysts’ adjusted operating income estimates. It added 97 enterprise customers paying more than $100,000 annually to reach a total of 824.
Is Amplitude a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Amplitude’s revenue to grow 20.8% year on year, improving from the 17.7% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Amplitude has a history of exceeding Wall Street’s expectations.
Looking at Amplitude’s peers in the data and analytics software segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Palantir Technologies delivered year-on-year revenue growth of 95.9%, beating analysts’ expectations by 5.9%, and Strategy reported a revenue decline of 2.5%, falling short of estimates by 1.4%. Strategy traded down 7.8% following the results.
Read our full analysis of Palantir Technologies’s results here and Strategy’s results here.
There has been positive sentiment among investors in the data and analytics software segment, with share prices up 4.2% on average over the last month. Amplitude is up 13.1% during the same time and is heading into earnings with an average analyst price target of $15.36 (compared to the current share price of $16.83).
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