NetSuite Q2 Results
(Reuters) – NetSuite Inc (N.N), a maker of Web-based business software for small and mid-sized businesses, posted better-than-expected adjusted quarterly profit, helped by a jump in bookings at its North American segment.
Second-quarter net loss, however, widened to $7.2 million, or 11 cents a share, compared with $5 million, or 8 cents a share, a year ago.
Excluding items, the company earned 3 cents a share, besting analysts’ expectations of 1 cent a share, according to Thomson Reuters I/B/E/S.
Bookings through NetSuite’s North American channel grew 27 percent.
Revenue at NetSuite, which is majority-owned by Oracle Corp’s (ORCL.O) billionaire Chief Executive Larry Ellison, rose 17 percent to $47.1 million. Analysts were expecting revenue of $45.3 million.
Original article: click here