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Investing.com -- Tenable Holdings, Inc. (NASDAQ:TENB) shares surged 8.5% after the exposure management company reported second-quarter earnings and revenue that exceeded analyst expectations, while also providing strong revenue guidance for the third quarter.
The cybersecurity firm posted adjusted earnings per share of $0.34 for the second quarter, beating the analyst estimate of $0.30. Revenue came in at $247.3 million, surpassing the consensus estimate of $242.15 million and representing a 12% increase YoY. The company’s outperformance was driven by strong adoption of its exposure management platform.
Tenable’s stock jumped 8.5% following the results, as investors responded positively to the earnings beat and solid guidance.
"We beat all of our guided metrics during the quarter, delivering 12% revenue growth and 19% operating margin," said Steve Vintz, Co-CEO of Tenable. "Our outperformance was driven by the adoption of our exposure management platform, as customers are becoming more strategic with their security investments."
For the third quarter, Tenable expects revenue between $246 million and $248 million, above the consensus estimate of $243.9 million. The company projects adjusted EPS of $0.36 to $0.37, slightly below analysts’ expectations of $0.38.
The company added 367 new enterprise platform customers and 76 net new six-figure customers during the quarter. Tenable also announced a $250 million expansion of its existing stock repurchase program and completed its acquisition of Apex Security.
Non-GAAP income from operations was $47.7 million, compared to $42.8 million in the second quarter of 2024. The company generated $44.3 million in unlevered free cash flow, up from $36.5 million in the same period last year.
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