===Zuora (ZUO) reported earnings on Tue 6 Dec 22 (a/h)

 

Zuora beats by $0.04, reports revs in-line; guides Q4 EPS below consensus, revs below consensus; guides FY23 EPS in-line, revs below consensus; to cut 11% of workforce

• Reports Q3 (Oct) loss of $0.02 per share, excluding non-recurring items, $0.04 better than the S&P Capital IQ Consensus of ($0.06); revenues rose 13.3% year/year to $101.1 mln vs the $100.21 mln S&P Capital IQ Consensus.
• "We posted third quarter total revenue at the high end of our outlook, and we exceeded guidance for subscription revenue and non-GAAP operating income despite the economic environment, which has changed over the past 90 days. The macroeconomic dynamic has led us to make the difficult decision to reduce our workforce by 11% to align our expenses to our near-term growth profile and improve profitability in the near-term," said Todd McElhatton, Chief Financial Officer at Zuora. 
• Co issues downside guidance for Q4, sees EPS of ($0.07)-($0.06), excluding non-recurring items, vs. ($0.04) S&P Capital IQ Consensus; sees Q4 revs of $99.5-101.5 mln vs. $103.12 mln S&P Capital IQ Consensus.
• Co issues guidance for FY23, sees EPS of ($0.16)-($0.15), excluding non-recurring items, vs. ($0.16) S&P Capital IQ Consensus; sees FY23 revs of $392.5-394.5 mln vs. $394.77 mln S&P Capital IQ Consensus.
• Sees FY24 subscription revenue growth between 11-14%.