Cloud business software company NetSuite reported fourth-quarter results that beat the estimates of analysts as the company reported new business from companies like Snapchat and jeans maker Lucky Brand.
NetSuite Q4 Beats Street on New Business From Snapchat and Lucky Brand
The cloud software company is winning new customers after branching into software for powering commerce.
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NetSuite shares fell 88 cents, or less than 1 percent, to $65 in after-hours trading after the results were published. The company posted per-share earnings of five cents on revenue of $206 million. Analysts had projected a per-share profit of four cents per share on revenue of $204 million. It finished the fiscal year with $741 million in revenue and a 22-cent profit.
NetSuite has in the last couple of years branched out from its cloud-based enterprise resource planning software aimed at helping mid-sized companies run their day-to-day operations, and into software aimed at powering commerce. CEO Zach Nelson has argued that the lines between operations and commerce are getting blurry.
The company was born as the result of series of conversations involving Oracle founder Larry Ellison, NetSuite’s founder and now-CTO Evan Goldberg and Salesforce founder and CEO Marc Benioff, concerning how a new generation of enterprise software applications would run in what we now call the cloud. NetSuite — first known as NetLedger — got off the ground first, but the same series of conversations also led Benioff to start Salesforce.
NetSuite’s customers run the gamut from the Silicon Valley who’s who including Box, Jive Software, Tableau, DocuSign and Evernote to players in older and more traditional industries including Lionel, the 115-year-old manufacturer of model trains and cars, and retailer Williams-Sonoma.
NetSuite landed Lucky Brand, the speciality retailer owned by the private equity firm Leonard Green, as a customer earlier this month. The jeans outfit uses Bronto Software, a company NetSuite acquired last year in its marketing efforts and uses NetSuite OneWorld to run its wholesale, finance and inventory operations.
This article originally appeared on Recode.net.
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