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Shares of
Monday.com
were rising Monday after the social communication tools company raised full-year guidance.
Monday.com
(ticker: MNDY) said it expects revenue in 2023 of between $723 million and $725 million and adjusted operating income of $47 million to $49 million. It previously previously forecast revenue of $713 million to $717 million and adjusted operating income of $24 million to $28 million.
The company posted third-quarter net income of15 cents a share, pivoting from the 51-cent loss recorded in the year-ago quarter. Revenue of $189.2 million also rose from a year earlier and easily beat Wall Street’s call for $182.5 million, according to FactSet.
Shares of Monday.com were up 8.1% to $151.43 in premarket trading. Coming into the session, the stock has risen 15% this year.
Write to Emily Dattilo at [email protected]
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