RTTNews | Sep 4, 2020 10:11AM EDT

10:10 Friday, September 4, 2020 (RTTNews.com) - Shares of cloud software company Domo, Inc. (DOMO) are gaining more than 12 percent on Friday morning as the company reported a narrower net loss for the second quarter on Thursday.

Currently, the shares are at $42.10, up 12.93 percent from its previous close of $37.28. For the 52-week period, the shares have traded in a range of $42.03-$47.25 on average volume of 705,007. Domo reported a second-quarter net loss of $17.90 million or $0.62 per share, narrower than $31.16 million or $1.14 per share loss last year. On an adjusted basis, net loss was $10.70 million or $0.37 per share. Wall Street analysts were looking for loss of $0.45 per share. Analyst estimates usually exclude special items.

Revenue for the quarter increased 23 percent to $51.13 million from $41.66 million a year ago. The Street expected earnings of $49.59 million.

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