Benzinga | Aug 31, 2021 04:28PM EDT

Why Are Anaplan Shares Trading Higher Tuesday Afternoon?

Anaplan Inc (NYSE:PLAN) shares traded sharply higher in Tuesday's after-hours session following strong quarterly results and guidance.



The company reported a second-quarter loss of $0.09 per share on sales of $144.3 million.



Analysts on Anaplan had been expecting a loss of $0.14 per share on sales of about $134 million.



"We are pleased with our strong performance and healthy momentum across the business," said Frank Calderoni, chief executive officer of Anaplan. "With the post-pandemic economy emerging, we are well positioned to take advantage of the numerous market opportunities to help solve our customers' biggest challenges. I want to personally thank all our employees for their resiliency and commitment."



The company said it expects third-quarter sales between $145.5 million and $146.5 million. Analysts expect third-quarter sales around $142 million.



Anaplan raised its FY22 sales guidance from between $555 million and $560 million previously to a new range of $571.5 million and $573.5 million. Analysts on Anaplan expect fiscal year sales around $558.7 million.



Shares of Anaplan last traded at $71.25, up nearly 19 percent since the Tuesday close.