NetSuite talks up rest of year but losses remain


NetSuite talks up rest of year but losses remain

Simon Quicke

The well worn phrase 'revenues are vanity but profits are sanity' could well be applied to NetSuite, which sawe its losses increase.

The cloud ERP specialist could boast of a 29% increase year-on-year in revenue to $74.7m for the second fiscal quarter but on a GAAP basis the net loss hit $9.9m, compared to $9.8m a year earlier.

But there was cause for optimism with subscription and support revenue, the lifeblood of a software firm, enjoying a 27% climb to $61m.

NetSuite CEO Zach Nelson said that it had improved across its financial metrics and was in a fairly decent position.

"In a quarter that saw many enterprise software companies struggle, NetSuite has one of its best quarters ever," he added that it was now able to increase its full-year outlook for revenue and non-GAAP earnings per share.

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