Why Qualtrics International (XM) Shares Are Soaring Afterhours

Qualtrics International IncXM shares are trading higher by 2.59% to $11.50 during Wednesday's after-hours session after the companyreportedbetter-than-expected fourth-quarter adjusted EPS and sales results.

What Happened?

Qualtrics reported quarterly earnings of 3 cents per share which beat the analyst consensus estimate of 2 cents. The company also reported quarterly sales of $389.10 million, which beat the analyst consensus estimate of $381.11 million by 2%. Additionally, this sales figure is a 23.12% increase over sales of $316.04 million in the same period last year.

Qualtrics says the company sees total revenue in a range between $392 and $394 million. Qualtrics also sees FY23 revenue as low as $1.661 billion or as high as $1.669 billion, versus the analyst consensus estimate of $1.69 billion.

"Qualtrics delivered solid results in Q4, capping off a very strong year of growth and significant operating margin expansion," said Qualtrics CEOZig Serafin.