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Wed, April 5 at 4:00PM ET

Why Is Qualtrics International (XM) Stock Up 29% Today?

  • Qualtrics International (XM) stock is rising alongside earnings data.
  • The company beat out estimates for Q4 2022.
  • Qualtrics also posted solid guidance for upcoming quarters.
XM Stock. Image of a pen resting on a paper that reads "financial results"

Source: Shutterstock

Qualtrics International (NASDAQ:XM) stock is soaring after releasing its earnings report for the fourth quarter of 2022.

Starting off that report is the company’s adjusted earnings per share (EPS) of 3 cents. That’s better than the 2 cents per share Wall Street had expected. It’s also a positive switch from the -7 cents per share reported in the same period last year.

Going along with this is Qualtrics’ revenue of $389.1 million, which beat out analysts’ revenue estimate of $381 million for the period. Revenue also marked a 23% year-over-year (YOY) increase from the $316 million reported last year.

XM Stock Outlook

Looking forward, Qualtrics expects adjusted EPS between 1 cent and 2 cents, alongside revenue of $392 million to $394 million, for Q1 2023. For comparison, Wall Street is looking for an adjusted EPS of 1 cent and revenue of $391.64 million next quarter.

When it comes to full-year 2023, Qualtrics International’s guidance includes adjusted EPS of between 20 cents and 24 cents and between $1.661 billion and $1.669 billion. Analysts expect adjusted EPS of 10 cents and revenue of $1.69 billion in 2023.

XM stock is off to a strong start this morning as some 1 million shares change hands. That has the stock set to surpass the daily average trading volume of about 1.6 million shares. XM is also up 28.9% in pre-market trading on Thursday.

Investors looking for all of the latest stock market news will want to keep reading!

InvestorPlace has all of that stock coverage ready to go for Thursday! That includes the biggest pre-market stock movers this morning, as well as what’s happening with the Federal Open Market Committee and House Representative Nancy Pelosi. You can catch up on all of that news at the links below!

More Thursday Stock Market News

On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2023/01/why-is-qualtrics-international-xm-stock-up-29-today/.

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